Heading Backwards
Sadly, this report is a big step back in ambition. There are a few positives – a strong case for investment in green jobs in response to the unemployment crisis and signals of an
interventionist green industrial strategy (even if these are increasingly the political mainstream). But the best that can be hoped is that it’s just a ‘first step’ – with more policy to come.
Incredibly, the report advocates no new spending whatsoever, instead calling for the Government to bring forward £30bn of the capital investment it has already promised. That’s a mere third of what the TUC has advocated (the number of green jobs proposed is less than half of the TUC’s proposals). Gone, too, is any mention of the 2030 decarbonisation target: the report is often centred around the status quo aim of net-zero emissions by 2050 (now openly
embraced by Labour). This isn’t climate leadership – it’s a recipe for climate catastrophe.
The report does make some positive policy proposals around home insulation, a key target to create green jobs and bring down emissions. But the target is just seven million homes by 2030, down from 27 million. Starmer’s Labour shies away from the massive state intervention and investment required to tackle our climate, health and economic crises, making no mention whatsoever of any of the public ownership commitments (of energy, water, broadband and more) at the heart of Labour’s Green New Deal. Transport barely merits a mention.
On energy, the report prefers to point out holes in the Tories’ plans, rather than suggest alternatives. There is no mention of Labour’s 2019 policy for 70,000 jobs in new publicly-owned wind farms, with profits reinvested into coastal communities. The same goes for plans to provide free energy for 1.75m working-class households by putting solar panels on their roofs. Bright sparks on retraining programmes are welcome, but are less ambitious than 2019.
Crucially, this is a ‘Green New Deal’ shorn of class conflict, with no plans to rapidly wind down fossil fuels (and mass aviation) while empowering workers in a just transition. But despite welcome
noises from Ed Miliband, there is no mention of public equity stakes of struggling airlines, or a plan to phase out North Sea oil. More worryingly still, its unqualified embrace of hydrogen and carbon capture and storage (CCS) risks paving the way for polluters intent on maintaining an ecocidal status quo.
The report is best encapsulated by its stance on climate finance – there is a much-trumpeted call for mandatory climate risk disclosures for listed companies. But John McDonnell’s
threat to delist the companies failing this test is gone, presumably for fear of spooking the City. Labour is hoping against reason that the market, with a small nudge from the state, can solve this crisis.