It is crucial that we recognise the importance and urgency of action needed on climate change. The UN's Intergovernmental Panel on Climate Change has concluded that the world is warming faster than anticipated, the effects of which are being seen in every single region of our planet. Immediate global action is needed to limit warming, heatwaves, heavy precipitation, droughts, and loss of Arctic Sea ice, snow cover and permafrost.
While I welcome continued public debate on the issue, I also want to assure you that the Government is taking significant action. The UK was the first G7 country to legislate to achieve net zero by 2050, and is decarbonising faster than any G20 country. In addition, we have set ambitious climate targets in law, such as a commitment to reduce emissions by 68 per cent by 2030, and also by 78 per cent by 2035, both compared to 1990 levels. This is not at the expense of economic growth: the UK has grown its economy by 75 per cent while cutting emissions by nearly 48 per cent since 1990.
However, the UK accounts for only approximately 1.2 per cent of global emissions; clearly, global action is required. When the UK took on the COP26 Presidency, in partnership with Italy, only 30 per cent of the world was covered by net zero targets. This figure is now at around 90 per cent. I am strongly encouraged by the ambitions of the Glasgow Climate Pact which calls on accelerated global efforts to phase down unabated coal power and phase out inefficient fossil fuel subsidies, while providing targeted transitional support to the poorest and most vulnerable in line with national circumstances.
The next decade is critical; every country, government, business and citizen must unite to tackle this huge threat to our planet and humanity.
Thank you again for taking the time to contact me.