Our host today, for example, the Republic of Korea have committed to achieving net zero by 2050. President Moon has also pledged – like the UK – to end international coal finance. And we recently learned that, through the G7, Japan will be taking concrete steps to do the same.
Around the world, in every continent, rich and poor nations alike, have been putting forward ambitious emissions targets. And the wealthiest countries are getting increasingly serious about first hitting and then exceeding our climate finance promises.
It’s a great start, but let’s not pat ourselves on the back just yet because our planet and our people need more: more ambition, more innovation, more action and yes, more money. We need NDCs that match those net-zero commitments. We need an end to dirty, old coal fuelling our power grids. And we need governments that will not just make promises on climate and nature – but match those words with deeds.
That’s why the UK is making a massive investment in R&D and science, developing technology that will both slash emissions and create jobs. That’s why, by the end of this decade, we’ll harness enough offshore wind to power every home in the United Kingdom. And it’s why we’re working hand in hand with business to deliver our 10-Point Plan for a greener economy. We have to do all this because even the most committed government cannot bring about a green industrial revolution on its own. We need businesses to play their part, too. So I’m delighted that more than 2,000 companies have already pledged to take part in the Race to Zero.
And I want to thank President Moon for convening this partnership, giving governments and business leaders another forum to share ideas and insights ahead of COP. Because it’s now only five months until we gather in Glasgow – five months in which we all need to think big, raise our ambitions and do the hard work that will make the summit a success. So that, in the years and decades that follow the world can look back on COP26 as the moment we chose the right path not just for our planet but for all our futures.