Something Greens are always very concerned about is marketisation and financial engineering around environmental issues. The UK has a long and dangerous track record of mismanaging this. In the same way that financial engineering around mortgages caused the 2008 financial crisis, there are risks that bankers will abuse the climate crisis as an opportunity to get filthy rich while destroying the very systems we are working to protect. It has been done before.
The Drax power station has been taken to court twice this year for air pollution offences. I questioned the Minister because it’s obvious that Drax is bad for the local environment and for the planet.
Solar Alliance to light lives of a billion people
I find the ambitions of the International Solar Alliance (ISA) enormously exciting, which is why I organised a Lord’s debate on the UK Government signing up to them. It is an international agreement, formed at the United Nations by treaty between 121 states. Importantly, the alliance is being led by India, which makes it the first large-scale climate initiative to be led by a ‘developing’ country. Together the signatories seek to raise $1 trillion US dollars for investment in solar power, and by 2030 the treaty aims to provide affordable green energy to a billion people who do not currently have any electricity. These are lofty goals and they demonstrate an understanding that green investment gives the opportunity to significantly increase the living standards of the world’s poorest while protecting the ecological resources on which all our livelihoods depend. So far, all good. Continue reading “Solar Alliance to light lives of a billion people”