Thank you for that introduction, John.

Very shortly after being appointed to my COP26 role, I visited the United Nations in New York to speak to Permanent Representatives alongside the Secretary General. And on this trip, one meeting struck a particular chord.

It was an informal discussion with Permanent Representatives from developing nations, and we were going round the table, with everyone explaining what climate change meant for their country.

And when we got to the representative from one of the small island developing states. She said quite simply ‘Unless we tackle climate change urgently, I won’t have a place to call home.’

Now for many people across the world, the situation is literally as stark as that.

And that is why we need to work with the greatest urgency to tackle climate change. And ultimately this will require a joint effort on the part of governments, businesses, investors, cities, and regions working in partnership.

To meet the goals of the Paris Agreement, we must decarbonise the global economy up to five times faster over the next 10 years than we have over the past 20 years.

And that is why I am calling on all parts of society to increase their ambition, and to focus efforts on five critical areas: restoring nature, adaptation and resilience, clean energy, clean transport, and finance.

Businesses realise that going green is not just the right thing to do, but it is also what their customers want, and increasingly what drives shareholder value.

Analysis suggests, and many of you will know this, that investments in renewables create more jobs than the equivalent in coal, oil, and gas. Over the past decade we know that the cost of solar power has fallen by 85% and that of wind power by almost 50%. Both are now cheaper than new coal and gas plants in two-thirds of countries.

And that is why the likes of ANZ, Commonwealth Bank, Westpac, and NAB – all major investors – have said they will stop investing in coal power.

Globally, finance is also turning to clean sectors.

Last month, for example, iron ore giant, Fortescue announced plans to build more than 235 gigawatts of renewable capacity.

Our green global future creates enormous opportunities for countries and companies.

And here in the United Kingdom we are seizing those opportunities.

We have developed the world’s largest offshore wind sector, and we will accelerate that success with Prime Minister Boris Johnson’s new plan for a green industrial revolution, which was announced last month, and this includes a commitment to quadruple our offshore wind capacity within a decade, supporting many thousands of jobs.

And in the UK, we’ve demonstrated that green growth is absolutely possible. Over the last 30 years, we’ve managed to grow our economy by 75%, and cut our emissions by 43%.

In our experience, setting targets provides investors with confidence and clarity. We were the first major economy to legislate for net-zero emissions by 2050.

And the momentum is now building behind similar targets around the world. Globally more than 120 countries have made carbon neutrality or net zero announcements. And this includes recent examples of targets from Japan, from South Korea, from China, and I urge all other countries to join them.

On 12th December the UK, the UN and France will co-host a summit, in partnership with Italy and Chile, to mark the five-year anniversary of the Paris Agreement.

And we are calling on leaders from across the world to use this moment to announce ambitious climate commitments.

On emissions reductions, on climate finance, and on adaptation.

And we need everyone to play their part. The Race to Zero campaign is a coalition of cities, regions, businesses, and investors which have committed, through science-based targets, to reach net-zero emissions by 2050 at the latest. They already collectively account for 50% of the world’s economy, and 25% of its emissions.

And I would like to thank Australia’s States and Territories which have all made commitments to reach net-zero by 2050. And I urge all of you who have not already done so to join the Race to Zero Campaign.

I also ask investors to sign up to disclose climate risk in line with the recommendations of the Taskforce on Climate-related Financial Disclosures.

This will become mandatory in the UK by 2025 and we need investors around the world to join us.

The world we live in is changing. Growth is increasingly green. And by working together, we can bring about the change that we need, and ultimately help preserve our planet for future generations.

Thank you.

Stoke-on-Trent is set to benefit from £29 million from the government’s Transforming Cities Fund, helping to revolutionise the city’s transport network and how residents get around, Transport Secretary Grant Shapps has today (2 December 2020) announced.

Plans for the funding include a dramatic revamp of the area around Stoke-on-Trent train station, where a brand-new transport hub is to be created that will offer local commuters and visitors to the city better access to taxis, buses and cycling, while also improving walking routes to and from the station.

Further works are planned at Longton train station, with the installation of lifts, facilities to support cyclists and new passenger-waiting shelters. The improvements will improve accessibility to the station, encouraging more people to make use of the station and its links into the city.

Bus passengers will also benefit from today’s funding, enjoying priority routes across the city for the first time as part of plans to cut congestion and bus journey times on the city’s roads. Funding from the £29 million pot is being used to upgrade the city centre bus station, to accommodate these new travel routes.

Transport Secretary, Grant Shapps, said:

The Transforming Cities Fund allows cities across the UK to better connect their communities and open up access to jobs, housing and services, and this multi-million-pound investment will make it quicker and easier to get around Stoke-on-Trent, providing a real improvement to the everyday lives of residents.

This government is committed to levelling up transport infrastructure around the country. Today’s funding announcement demonstrates this commitment, boosting the local economy whilst helping Stoke-on-Trent build back better from COVID-19.

Councillor Daniel Jellyman, Cabinet Member for Regeneration, Infrastructure and Heritage, said:

This announcement is great news and a real game-changer for transport and connectivity in the city. The investment is coming at a critical time as we emerge from the coronavirus pandemic and power up Stoke-on-Trent for years to come, and it will give the city a real shot in the arm. It’s very encouraging that the government are supporting what we are trying to achieve in the city and it’s a real endorsement for the future of Stoke-on-Trent at a national level that we have been given this money.

A lot of hard work has gone on behind the scenes to make this bid a success and I’d like to thank everyone involved. However, the hard work really starts now as we aim to deliver the scheme in the timescales set by government.

In a bid to cut emissions and improve air quality in the region, a portion of the fund is going towards ‘active travel’ schemes. High-quality walking and cycling routes will be implemented towards Etruria Valley and Trentham Lakes, and a new cycling and pedestrian link will be installed at Vernon Road – offering residents access to higher-quality green travel options.

The Transforming Cities Fund was set up to build on transport links within city regions, promoting local growth and placing cities at the heart of the government’s industrial strategy. Today’s announcement follows the Department for Transport committing £18.5 million earlier this year to the Etruria Valley Link Road. Construction work has now started on this important route, which is designed to reduce congestion into the city centre, boosting the local economy and providing greater access to jobs.

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