(4 days, 23 hours ago)
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I absolutely will. In fact, Mr Twigg, you have pre-empted exactly where I was going in my speech.
Such investments are not token gestures—[Interruption.] Exactly. They are strategic investments that will shape the future of energy. Domestic supply chains, from engineering specialists to subsea infrastructure manufacturers, and from power cable component suppliers to logistics and offshore support companies, will support the transition. Again, we should allow them to tell people in this country about their work.
The hon. Gentleman will have heard earlier in the debate from the hon. Member for Thornbury and Yate (Claire Young) that some oil and gas companies advertise their work on decarbonising despite it making up only 0.3% of their business. On that basis, I could arguably edit my Wikipedia page to say that I am a professional swimmer or pub quizzer, but I do not think that would be a fair representation of what I spend most of my time doing, although it probably adds up to 0.3% of my time in some months. On that basis, would the hon. Gentleman reconsider whether he really thinks it is fair to allow oil and gas companies to advertise work that accounts for less than 0.5% of their business and use that to greenwash their image?
No, obviously that would not be fair, but as has already been pointed out, the Advertising Standards Authority has demonstrated that it possesses both the mandate and the mechanisms to hold companies to account for misleading environmental claims, and as yet it has found none to be in breach.
It is important that those companies, which require the underlying profit from their traditional exploration and drilling work to support their investment in the clean technologies of the future, are allowed to tell the country and the world about that. We should be immensely proud that we have not only a world-leading oil and gas sector—the cleanest basin from which to extract oil and gas in the world right now—but one that spends billions on developing the clean technologies of the future and attracts international companies to the United Kingdom to do the same.
If the issue is the accuracy of advertising, we should have confidence in the existing regulatory framework, which has proven capable of intervening where necessary. A blanket ban is neither proportionate nor necessary when robust oversight is already in place. I am afraid that the ban advocated by the petition may be purely ideological. It would damage investor confidence and be counterproductive in reducing carbon emissions.
I am proud that BP, Shell, Total, Equinor and the rest invest in music, art, culture, education and sport across the UK—and let us look at what happens when they do not. Baillie Gifford, a global investment management firm that invests in some of Scotland and the UK’s biggest companies, which just happen to be oil and gas companies, was sadly forced, under pressure from environmental activists, to withdraw support for the Edinburgh international book festival. Who has had to step up at the last minute to plug the gap? It is the Scottish Government—the taxpayer—to the tune of £300,000 this year alone, at a time of tightening budgets, fiscal constraints and a difficult financial outlook for the country. When there was money already available, that is utter madness.
The oil and gas industry, which is based in and around Aberdeen but has a presence across our entire island nation, is a national asset. We should be championing it and the people who work in it, not demonising them. We should be proud when we see the names of successful British companies supporting British artists, musicians and sportspeople, and when we see them investing in communities, schools and our country. We should absolutely allow them to tell the world of the globally significant investment that they are making in the clean technologies of the future, and we should not have any truck with this petition.
(5 months, 2 weeks ago)
Commons ChamberI will not. I have given way a few times and other Members want to speak, so I want to make some progress.
Aligning to the targets, which the Bill would oblige the Secretary of State to achieve, would require even more drastic action to reduce emissions. The Secretary of State has already signed the country up to an even stricter target of cutting emissions by 81% by 2035—something the Climate Change Committee said will require people to eat less meat and dairy, take fewer flights, and swap their boilers for heat pumps and their petrol cars for electric vehicles at a pace that will require taxes and mandation. That is not sensible, nor is it feasible.
Let us turn to the objective to include import emissions in the scope of our carbon budgets. Zero Hour correctly identifies that the current carbon budget system focuses on territorial emissions, rather than consumption emissions—in other words, we count the carbon emissions of what is produced within our own borders, rather than the carbon emissions of products that are produced overseas, shipped in and then used within the UK. Some may think that underplays our true contribution to global emissions, and they may have a point, because if we shut down our oil and gas sector, for example—as the Labour party seemingly wants to do—that will not mean that we consume any less oil or gas; it will just mean that we ship it in from overseas as liquefied natural gas, which has four times the carbon emissions in the production process. We may have reduced our territorial carbon emissions and stuck to our carbon budgets, but we would actually be increasing our carbon emissions overall. That, as my right hon. Friend the Member for East Surrey (Claire Coutinho) likes to say, is carbon accounting gone mad.
Does the shadow Minister recognise that the point he makes about emissions from imports not being counted rather undermines the point he was making earlier, when he boasted about the territorial emissions that were reduced when he was in government, which may be the very point that the sponsors of the Bill are trying to make?
I thank the hon. Lady for her question, but how do we get away from the problem of double accounting for those emissions? If, for example, India is counting them as part of its global emissions and we start to count them too, in addition to what we are doing within our borders, how will we ever get an accurate picture of emissions across the globe? If we were to take into consideration the global effect of our consumption emissions and the carbon footprint of what we import, the British people would soon realise that there is no way to decarbonise consumption as rapidly as possible, as the Bill seeks, without a huge economic challenge, and that is not recognised in the Bill.
That brings me to the next aspect of the Bill: the requirement—not just the ambition—that the UK ends
“the exploration, extraction, export and import of fossil fuels…as rapidly as possible.”
I am sorry to say that that is not a serious proposal. Even the Climate Change Committee has said that oil and gas will remain a crucial part of our energy mix for decades to come—something that the Secretary of State and his Ministers have accepted. As we have been saying, turning off the taps in the North sea will result only in higher imports—something the Labour Government seemingly accept.
But even worse, the Bill would require us not only to completely end domestic exploration and production, but to end the import of fossil fuels. Just this week, on Wednesday, gas power stations provided 65% of the UK’s electricity. Just 2% came from wind power and 1% came from solar. If the Bill is successful and we end not just the extraction but the import of all fossil fuels as rapidly as possible, MPs who are backing it will have to explain how we keep the lights on when the wind does not blow and the sun does not shine.
I will make progress, because I know more Members wish to speak. When the wind does not blow and the sun does not shine, we simply do not have the technology available—we do not have enough clean power from batteries or long-duration electricity storage—to meet demand. That speaks to the major contradiction in the Bill: it talks about protecting the British countryside from development, but it would require an incredible roll-out—at pace and scale unprecedented—of renewable technologies, pylons, substations and battery storage facilities.