24 January 2025

Labour tensions

The headlines

UK

• Starmer signalling retreat?

• Airport plan cracks Labour unity

• Climate and Nature Bill threatens split

• Bank speaks truth unto power

• Support for Net Zero falls away

International

• Trump broadside

• EPP sounds retreat

• More banks exit ESG alliance

• Tusk rails

Etcetera

• From the blog

• Lord Frost joins Net Zero Watch

• Net Zero Watch welcomes NESO audit

UK

Starmer signalling retreat?

There were reports that Labour is quietly watering down green policies. Harry Wilkinson was on Talk, discussing the news.

Airport plan cracks Labour unity

Hints that the party would backtrack and allow expansion of three London airports were met with dismay by several cabinet ministers.

Climate and Nature Bill threatens split

And the Labour whips’ instruction that MPs should oppose the appalling Climate and Nature Bill risked ripping the party asunder. The degrowther tendency within the party were threatened with the loss of the whip if they didn’t fall into line. Fortunately, concessions from the government led to the bill being dropped.

Bank speaks truth unto power

In a break from its previous practice, the Bank of England elected to lay down some uncomfortable truths for the Chancellor, explaining that walking back Net Zero targets is a prerequisite for the economic growth she needs to save her career.

Support for Net Zero falls away

A poll of UK householders found dwindling support for Net Zero and technologies such as heat pumps.

International

Trump broadside

On assuming office, President Trump announced that the US would leave the Paris climate accord, and cancelled $300 billion of green infrastructure spending.

EPP sounds retreat

The influential EPP group of MEPs said that there should be a freeze on CO2 levies and that renewable targets should be abolished. Net Zero is quickly becoming political poison.

More banks exit ESG alliance

Canadian banks followed their US counterparts out of the Net-Zero Banking Alliance.

Tusk rails

Polish president Donald Tusk, addressing the European Parliament, railed against the Green New Deal.

Etcetera…

Ed Miliband and his sidekick Chris Stark were on the receiving end of a lot of ridicule when they told a committee of MPs that new AI businesses would have to locate themselves in places, such as highland Scotland, where renewable power is abundant.

In a report for investors, the Royal Bank of Canada said that the UK economy was being stymied by ‘a nihilistic climate agenda’.

The head of Ofgem said he hoped electricity bills would stabilise in due course, apparently conceding that they will continue to rise for the time being.

The Times, previously entirely orthodox in its climate views, carried a strong call for a reversal on Net Zero.

From the blog

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