Global Challenges and the Need for Reflection
Today, we are witnessing a level of conflict across the globe that has not been seen since World War II, coupled with the devastating impacts of climate change affecting numerous nations, and an ongoing cost-of-living crisis driven by soaring food and fuel prices. These pressing issues prompt a critical question for all nations: will we take the lessons of this era to heart, or will we choose to ignore them?
It is essential that we embrace these lessons. The most significant takeaway, particularly evident in the context of the Iran war and Russia’s invasion of Ukraine, is that true security cannot be achieved whilst remaining dependent on fossil fuels. This reliance subjects nations to volatile energy markets influenced by geopolitical tensions that are beyond their control.
In the case of the United Kingdom, it is noteworthy that half of our recessions since the 1970s have been triggered by crises related to fossil fuels. The repercussions are being felt acutely by the populace. Even the United States, the world’s largest producer of fossil fuels, is not exempt from these challenges, as highlighted by Vice President Vance in relation to the impacts of the Iran war on American voters. This reality is even more pronounced for fossil-fuel importing nations, which comprise 75% of the global population.
Shifting Towards Clean Energy Alternatives
The first lesson is clear: reliance on fossil fuels cannot provide the security we seek, as the evidence clearly demonstrates. Unlike previous generations, we now have a viable alternative in the form of clean-energy electrification. I commend the Turkish Presidency for prioritising this vision at COP31, a shift that is made possible by the remarkable transformation in clean energy pricing over the past two decades.
This progress is the result of collaborative efforts between both public and private sectors, leading to a dramatic reduction in costs. The UK is committed to leading by example, with ambitious goals that include achieving clean power by 2030, phasing out new petrol and diesel vehicles by the same year, and implementing a Warm Homes Plan aimed at electrifying heating systems.
Moreover, we recognise that investing in electrification is not just beneficial for our own nation, but is also in our self-interest as a global community. To that end, we are announcing a £200 million investment over the next four years through the Private Infrastructure Development Group (PIDG), which aims to mobilise an estimated $1 billion annually in private capital to support climate-resilient infrastructure in emerging economies across Africa and Asia.
Climate Breakdown as a National Security Concern
The third and final point I wish to address is the urgent issue of climate breakdown. It is imperative to view this as a national security matter. As Foreign Ministers and Prime Ministers, we must recognise the profound national security implications related to food security, infrastructure integrity, and population displacement.
Resilience in the face of climate challenges will be a focal point during our chairmanship of the G20 next year. Additionally, it is truly inspiring to observe the diverse array of individuals gathered at this COP—old friends and new faces alike. This gathering symbolises the essence of multilateralism, with countries collaborating for their mutual benefit.
We owe it to our citizens to learn from these experiences, to grasp the significance of electrification, and to champion the transition to a clean-energy era. It is imperative that we usher in the age of clean-energy electrification with determination and urgency.
Thank you for your attention.