London – UK. Today, the UK Chancellor of the Exchequer delivered an Autumn budget statement that papers over the cracks of the climate crisis and ignores the millions of people in the UK suffering from fuel poverty. Despite announcing a meager fund for climate disasters, having cut foreign aid budgets by significantly more, this budget does not account for the need to rapidly accelerate the just transition to distributed renewable energy and the alleviation of fuel poverty for the many.
A new report launched by 350.org, on the same day as this budget statement, shows that the world requires at least 1.5 terrawatts (TW) of renewable energy to be installed from 2030 onwards to limit global heating to 1.5°C (as acknowledged in the binding Paris Agreement).
The UK government has a track record of making the 1.5TW target difficult to achieve. From opening a new coal mine, to blocking onland renewables, and trying to build new oil and gas platforms in the North Sea. This is a budget and a government that is failing in its diplomatic and domestic commitments to support people impacted by the climate crisis and fuel poverty.
Kennedy Walker, UK Organiser at 350.org said:
“It’s clear that this is a budget for the super wealthy and the needs of the many are being pushed to the side. Rising to the challenge of the cost of living and climate crises go hand in hand and It’s time this government started recognising this and acting accordingly. Time and time again they side with energy companies and fossil fuel corporations profits instead of the best interests of the communities that keep this country ticking over.
Instead of cutting taxes for the super wealthy and financing new fossil fuels, we should be seeing a commitment to ease the burden many face day to day. Like helping to lift people out of fuel poverty by banning forced prepayment meters and binning standing charges with longer term solutions like enabling home-grown renewable energy and energy efficient homes. Solutions that look after our planet and our wallets.”
Notes to Editor
The report illustrates the need to unlock finance for the Global South to implement a global renewable energy target through the lens of climate justice. It shows that for the global renewable energy target to holistically address global energy needs and redress fossil fuel dependency, myriad organizations have agreed the target must contain provisions for the following quantitative goals:
- By 2030, to have tripled fair, safe and clean renewable energy capacity to over 11 terawatts (TW), and from 2030 onwards, add a yearly deployment of 1.5 TW of renewable energy capacity;
- By 2030 at the latest to have doubled yearly energy efficiency gains.
- By 2050, to have achieved a complete, just, and equitable phase out of all fossil fuels (coal, oil and gas), and by 2030, to have reduced greenhouse gas emissions by 42% relative to 2019 levels.