WIXLIB

InvestmentDelivering the far-reaching changeneeded to tackle the climate andenvironmental emergency will require afull mobilisation of national resources,both public and private.Labour will create a SustainableInvestment Board to bring togetherthe Chancellor, Business Secretary andBank of England Governor to oversee,co-ordinate and bring forward thisinvestment – involving trade unionsand business. We will ask the Office forBudget Responsibility to incorporateclimate and environmental impactsinto its forecasts so that the cost of notacting will be factored into everyfiscal decision.The cost of not acting is far greaterthan the cost of acting. We will launcha National Transformation Fund of 400 billion and rewrite the Treasury’sinvestment rules to guarantee thatevery penny spent is compatible withour climate and environmental targets– and that the costs of not acting arefully accounted for too. Of this, 250billion will directly fund the transitionthrough a Green Transformation Funddedicated to renewable and low-carbonenergy and transport, biodiversity andenvironmental restoration.be mandated to lend in line with ourmission to decarbonise our economywhile increasing productivity andcreating good jobs across the country.As well as large-scale national andregional projects, smaller loans willbe available through our new PostBank based in Post Office branches,enabling thousands of bottom-uptransformational changes by start-ups,small businesses, local co-operativesand community projects in towns andvillages up and down the country.We will make sure that the UK’sfinancial sector is helping to tackle theemergency rather than fuelling it. Wewill do this by improving the fitnessof our financial authorities to mobilisegreen investment and by giving thempowers to manage the risk to financialstability posed by short-sightedinvestment in polluting assets.Just 100 companies globally areresponsible for the majority of carbonemissions. We won’t be afraid to tacklethis wanton corporate destruction bytaking on the powerful interests that arecausing climate change. We will changethe criteria a company must meet to belisted on the London Stock Exchangeso that any company that fails tocontribute to tackling the climate andenvironmental emergency is delisted.We will create a National InvestmentBank, backed up by a network ofRegional Development Banks, toprovide 250 billion of lendingfor enterprise, infrastructure andinnovation over 10 years. They willA GREEN INDUSTRIAL REVOLUTION 13

Levelling Up Across the CountryMany parts of Britain would needthis investment even without a climateand environmental emergency. Yearsof under-investment and neglectby Westminster have left too manycommunities feeling powerless andtoo many areas left behind with lowquality jobs, weak productivity andslow growth.The climate and environmentalemergency is a chance to unite thecountry to face this common challengeby mobilising all our national resources,both financial and human. But we willonly succeed by ensuring that everyoneshares in the benefits. Labour will makesure that investment is spread evenlyacross the whole country and will givepowers and funding to every region andnation of the UK.We will bring about a radicaldecentralisation of power in Britain sothat local people and communities aregiven far greater control over their ownlives and prospects.A Local Transformation Fund in eachEnglish region will be used exclusivelyto fund infrastructure projects decidedat a local level, as will devolvedgovernments in Wales, Scotlandand Northern Ireland. Our RegionalDevelopment Banks will be governedby boards made up of key localstakeholders such as local chambers ofcommerce, trade unions and councillors– with Scotland, Wales and NorthernIreland empowered to make similar14 arrangements. They will set priorities forlending, giving every region and nationa new and powerful lever to rebuild theireconomy on their own terms.We will shift the political centreof gravity by placing the NationalTransformation Fund Unit, a key part ofthe Treasury, in the North of Englandand build up the regional offices ofgovernment in each of the nine Englishregions to co-ordinate governmentpolicies at the regional level, as well asensuring a regional voice in Whitehall.EnergyEnergy use in buildings accounts for56% of the UK’s total emissions, makingit the single most polluting sector. Wewill develop the recommendationsof our ‘30 by 2030’ report to put theUK on track for a net-zero-carbonenergy system within the 2030s – andgo faster if credible pathways canbe found. We will deliver nearly 90%of electricity and 50% of heat fromrenewable and low-carbon sourcesby 2030.We will build: 7,000 new offshore wind turbines 2,000 new onshore wind turbines Enough solar panels to cover 22,000football pitches. New nuclear power needed for energysecurity.IT’S TIME FOR REAL CHANGE

We will trial and expand tidal energyand invest to reduce the costs ofrenewable and low-carbon hydrogenproduction. We will upgrade almostall of the UK’s 27 million homes to thehighest energy-efficiency standards,reducing the average household energybill by 417 per household per year by2030 and eliminating fuel poverty. Wewill introduce a zero-carbon homesstandard for all new homes.As part of heat decarbonisation, we willroll out technologies like heat pumps,solar hot water and hydrogen, andinvest in district heat networks usingwaste heat.To balance the grid, we will expandpower storage and invest in gridenhancements and interconnectors.We will expand distributed andcommunity energy, and immediatelyand permanently ban fracking.We will support energy workersthrough transition and guarantee themretraining and a new, unionised job onequivalent terms and conditions.We will introduce a windfall tax on oilcompanies, so that the companies thatknowingly damaged our climate willhelp cover the costs. We will provide astrategy to safeguard the people, jobsand skills that depend on the offshoreoil and gas industry.A GREEN INDUSTRIAL REVOLUTION OwnershipWe will not achieve the promise of a fairand sustainable economy if we repeatthe mistakes of the carbon era, whenthe capture of a natural resource forprivate profit created a vastly unequaland polluting economy dominated bypowerful vested interests.It’s not just carbon. From thedepletion of fish stocks to theburning of the Amazon, profit hasproved a poor regulator for use ofour natural resources.Whether it is the trillions of litres ofwater lost through leakages, barriers torenewable energy connecting to thegrid or the billions of pounds of billpayers’ money being siphoned off individends to wealthy shareholders,Tory privatisation of our utilities hasbeen a disaster for both our planet andour wallets.We will put people and planet beforeprofit by bringing our energy andwater systems into democratic publicownership. In public hands, energy andwater will be treated as rights rather thancommodities, with any surplus reinvestedor used to reduce bills. Communitiesthemselves will decide, because utilitieswon’t be run from Whitehall but byservice-users and workers.Public ownership will secure democraticcontrol over nationally strategicinfrastructure and provide collectivestewardship for key natural resources.15

In the case of energy, it will also helpdeliver Labour’s ambitious emissionstargets. Whereas private networkcompanies have failed to upgrade thegrid at the speed and scale needed,publicly owned networks will accelerateand co-ordinate investment to connectrenewable and low-carbon energy whileworking with energy unions to supportenergy workers through the transition.Under Labour’s plans: A new UK National Energy Agency willown and maintain the national gridinfrastructure and oversee the deliveryof our decarbonisation targets. 14 new Regional Energy Agencieswill replace the existing districtnetwork operators and hold statutoryresponsibility for decarbonisingelectricity and heat and reducingfuel poverty. The supply arms of the Big Six energycompanies will be brought into publicownership where they will continue tosupply households with energy whilehelping them to reduce theirenergy demands.The Conservatives allowed theproceeds of North Sea oil to besquandered on tax cuts for the richestand captured in profits for the few,instead of investing them in our future.We now stand at an even greatercrossroads in the development of ournational economy. Under Labour, ourgreen future will be owned by all of us.16 Whenever public money is investedin an energy generation project, thepublic sector will take a stake and returnprofits to the public.Industry and InnovationAverting climate catastrophe offershuge economic opportunities.But Britain will only benefit froma Green Industrial Revolution withthe right policies.Over the past three decades, Britain hasreduced its emissions at the expenseof domestic industry by offshoringproduction. This is an accounting trick,not a solution. It does not protect theclimate, is unfair to other countriesand it damages jobs and communitiesat home.Labour will take full responsibility for ourcarbon footprint instead of passing thebuck. We will instruct the Committeeon Climate Change to assess theemissions the UK imports as well asthose it produces, and recommendpolicies to tackle them, including makingUK industry the greenest in the world.The Conservatives have presided over alost decade of productivity and allowedBritain to fall behind in the greentechnologies of the future. Labour willmake sure this never happens again.Targeted science, research andinnovation will be crucial to tackling theclimate crisis, dealing with the plasticIT’S TIME FOR REAL CHANGE

waste filling our oceans and addressingother societal challenges, such asan ageing population and antibioticresistance. As part of our plan to usherin a Green Industrial Revolution, Labourwill create an innovation nation, settinga target for 3% of GDP to be spent onresearch and development (R&D) by2030. We will achieve this target byincreasing direct support for R&D andreforming the innovation ecosystem tobetter ‘crowd in’ private investment.We will establish a FoundationIndustries Sector Council to providea clean and long-term future for ourexisting heavy industries like steeland glass and fund R&D into newertechnologies like hydrogen and carboncapture and storage.A thriving steel industry will be vitalto the Green Industrial Revolution.Labour will support our steel throughpublic procurement, taking action onindustrial energy prices, exempting newcapital from business rates, investingin R&D, building three new steelrecycling plants and upgrading existingproduction sites.We will ensure that new technologiesaren’t just invented here, but areengineered, manufactured andexported from here. We will putBritish innovation at the heart ofour procurement to support localsourcing and reshoring, so that everyinvestment we make strengthensour manufacturing and engineeringA GREEN INDUSTRIAL REVOLUTION sectors and supply chains and createshundreds of thousands of good,unionised jobs here at home.We will use the power of publicprocurement to strengthen local jobsand supply chains and will require allcompanies bidding for public contractsto recognise trade unions, pay supplierson time and demonstrate equalitiesbest practice.As we transition, we will ensure the UK’sautomotive sector isn’t left behind bythe electric revolution by investing inthree new gigafactories and four metalreprocessing plants. By supportingUK-made electrical steel we will ensurerobust support for an end to end UKsupply chain. We’ll also take on theglobal plastics crisis by investing in anew plastics remanufacturing industrycreating thousands of jobs, endingexports of plastic waste and reducingour contribution to ocean pollution.Labour’s progressive trade strategy willbe aligned with our industrial strategyto help develop the industrial baseneeded to deliver high-quality exportsand the decent jobs that go with them.Labour will champion exports fromthe environmental goods and servicessector, building on the 300,000 jobsthat the sector already sustains. Wewill uphold the highest environmentaland social regulations in all our traderelations, and will never downgradestandards as ‘barriers’ to trade.17

SkillsOur Green Industrial Revolution willcreate at least one million well-paid,unionised jobs in the UK. We will trainpeople in the skills they need to accessthese jobs of the future.Britain’s skills crisis has grown underthe Tories. The Apprenticeship Levyhas been beset by problems, leavingemployers paying into a training budgetthey are unable to spend. And it isnot delivering for small businesses.We cannot afford to carry on like this.Labour will make it easier for employersto spend the levy by allowing it to beused for a wider range of accreditedtraining, in line with guidelines set bythe Institute for Apprenticeships andTechnical Education and government’swider priorities for the economy.will be topped up with any surplusraised through Inclusive OwnershipFunds and made accessible to nonlevy-paying businesses.Targeted bursaries will be available towomen, BAME people, care leavers,ex-armed forces personnel, and peoplewith disabilities to encourage them totake up climate apprenticeships – theSTEM of the future.We will further help small businessesby increasing the amount that canbe transferred to non-levy-payingemployers to 50% and introducingan online matching service to helplevy-paying businesses find smallerbusinesses to transfer their funds to.We will launch a Climate Apprenticeshipprogramme to enable employers todevelop the skills needed to lead theworld in clean technology.Under this programme, employerswill be expected to allocate 25% ofthe funds in their ApprenticeshipLevy accounts to training ClimateApprentices. These funds can be spentdirectly or allocated to a ring-fencedClimate Apprenticeship Fund, which18 IT’S TIME FOR REAL CHANGE

TRANSPORTLabour will build asustainable, affordable,accessible and integratedtransport system,founded on the principlethat transport is anessential public service.Cutting emissions will drive our transport policies. Wewill review public expenditure on transport to ensurethat it promotes environmental sustainability andcontributes to decarbonisation.Bus services have been devastated by theConservatives, despite carrying more people than anyother mode of public transport. Women are especiallydependent on buses, which also provide a lifelinefor both older and younger people and for manyeconomically disadvantaged groups.Labour will ensure that councils can improve busservices by regulating and taking public ownershipof bus networks, and we will give them resourcesand full legal powers to achieve this cost-effectively,thereby ending the race to the bottom in workingconditions for bus workers. Where councils take controlof their buses, Labour will introduce free bus travel forunder-25s. We will increase and expand local services,A GREEN INDUSTRIAL REVOLUTION 19

reinstating the 3,000 routes that havebeen cut, particularly hitting ruralcommunities.Labour will deliver improvements forrail passengers by bringing our railwaysback into public ownership, usingoptions including franchise expiry. Thiswill enable us to make fares simpler andmore affordable, rebuild the fragmentedrailways as a nationally integratedpublic service, cut the wastage ofprivate profit, improve accessibility fordisabled people, ensure safe staffinglevels and end driver-only operation.Our publicly owned rail companywill steer network planning andinvestments. It will co-ordinatemainline upgrades, resignalling,rolling stock replacement and majorprojects. We will implement a full,rolling programme of electrification.Our model will ensure continuity ofskills, jobs and supply chain capacityto reduce costs, improve productivityand support the economic benefits ofLabour’s Green Industrial Revolution.We will introduce a long-terminvestment plan including deliveringCrossrail for the North as part ofimproved connectivity across thenorthern regions. We will consult withlocal communities to reopen branchlines. We will also unlock capacityand extend high-speed rail networksnationwide by completing the fullHS2 route to Scotland, taking fullaccount of the environmental impactsof different route options. We will20 deliver rail electrification and expansionacross the whole country, including inWales. We will ensure that these majorinfrastructure projects are a modelof good employment practice andpay due regard to the environmentalimpact.We will promote the use of rail freightin order to reduce carbon emissions, airpollutants and congestion on the roadsand expand the provision of publiclyowned rail freight services.We will increase the funding availablefor cycling and walking. We will bringtogether transport and land-useplanning to create towns and citiesin which walking and cycling are thebest choice: safe, accessible, healthy,efficient, economical and pollutionfree. We will help children’s health andwell-being by ensuring street designsprovide freedom for physically activeoutdoor play and by introducingmeasures to ensure the zones aroundour schools are safer, with cleaner air.Our transport programme is focused oncreating better, publicly accessible localtransport systems. By improving publictransport, Labour will help people tobecome less reliant on their cars, for ourbetter health, for a cleaner environmentand to improve quality of life in ourtowns and cities. The Conservativeshave committed to ending new sales ofcombustion engine vehicles by 2040.Labour will aim for 2030.We will position the UK at the forefrontof the development and manufactureIT’S TIME FOR REAL CHANGE

of ultra-low emission vehicles and willsupport their sale. We will invest inelectric vehicle charging infrastructureand in electric community car clubs.We will accelerate the transition of ourpublic sector car fleets and our publicbuses to zero-emissions vehicles.We will reform taxi and private hireservices, including a review of licensingauthority jurisdictions, setting nationalminimum standards of safety andaccessibility and updating regulationsto keep pace with technological changeand to close loopholes to ensure a levelplaying field.We will adopt an ambitiousVision Zero approach to UK roadsafety, striving for zero deaths andserious injuries. Labour will investto make our neglected local roads,pavements and cycleways safer forthe everyday journeys of both driversand vulnerable road users. We willreview all tolled crossings.Labour recognises the DaviesCommission’s assessment of pressureson airport capacity in the South East.Any expansion of airports must passour tests on air quality, noise pollution,climate change obligations andcountrywide benefits. We will examinefiscal and regulatory options to ensurea response to the climate crisis in a waythat is fair to consumers and protectsthe economy.We will take action to end nationalitybased discrimination in seafarer pay.A GREEN INDUSTRIAL REVOLUTION 21

ENVIRONMENTA Labour government’sGreen IndustrialRevolution iscomplemented byour Plan for Nature.Our commitmentsto ecosystem repairand environmentalprotections work handin hand with sustainablejobs and industries, andsocial justice.We are facing a climate and environment emergency,and unlike the Tories we will not trade our environmentin pursuit of reckless trade agreements.Labour will review and improve protected areadesignations, from National Parks to local naturereserves and urban green spaces.We will introduce a Climate and EnvironmentEmergency Bill setting out in law robust, bindingnew standards for decarbonisation, nature recovery,environmental quality and habitats and speciesprotection.We will maintain and continuously improve theexisting EU standards of environmental regulation.A Healthy Envi

privatisation rip-off and save you money on your fares and bills. We will deliver full-fibre broadband free to everybody in every home in our country by creating a new public service, boosting the economy, connecting communities and putting money back in your pocket. We will end food bank Britain, and lift children and pensioners out of poverty.