market is going alternatives to gas boilers. tue: market is going green, alternatives to gas boilers. tte: market is going green, and people know that we have the technological solutions to these problems, and they want to go green, and they know that we will be able one day to bring down the prices of green technology, evs and heat pumps and solar panels, in a way that we so rapidly made microwaves and mobile phones affordable. and they can see that we can do it, and when i was a kid, 80% of our energy came from coal. when i was mayor of london it was down to 40%. today, it is less than i%. and at the same time, we are turning this green industrial revolution into sustained economic growth, because we ve cut c02 revolution into sustained economic growth, because we ve cut co2 by 44% on 1990 levels in this country, and yet the uk economy has grown over that period by 78%. to adapt gordon gecko, who may or may not be a hero of anybody in this room, green is good, green is right, green
at tony blair institute for global change. thank you so much forjoining us. let s talk about the heat pumps, first of all. i spoke to caroline lucas, the green party mp earlier and she said putting one of these in and she said putting one of these in a home that is badly insulated is like using a teapot with cracks in it so i think we need to begin by talking about insulation and how well insulated is housing stock? t well insulated is housing stock? i think that s absolutely right. well insulated is housing stock? t think that s absolutely right. heat pumps can be a really effective way of heating your home but they rely on a degree to a well insulated home and that impacts costs. what we have seenin and that impacts costs. what we have seen in the last ten years as insulation rates have been pretty low in the uk and the housing stock wastes more energy than most of the rest of europe soak the strategy the government needs to put in place and we are talking about today is one that del
the technological solutions to these problems, and they want to go green, and they know that we will be able one day to bring down the prices of green technology, evs and heat pumps and solar panels, in a way that we so rapidly made microwaves and mobile phones affordable. and they can see that we can do it, and when i was a kid, 80% of our energy came from coal. when i was mayor of london it was down to 40%. today, it is less than 1%. and at the same time, we are turning this green industrial revolution into sustained economic growth, because we ve cut co2 by 44% on 1990 levels in this country, and yet the uk economy has grown over that period by 78%. to adapt gordon gekko, who may or may not be a hero of anybody in this room, green is good, green is right, green works. 0ur political correspondent
carbon wa . . , . , .,, ., ., ~ carbon way. in many ways as we look ahead to com, carbon way. in many ways as we look ahead to come, the carbon way. in many ways as we look ahead to come, the un carbon way. in many ways as we look ahead to come, the un climate - ahead to cop26, the un climate summit, and look at the four key goals of the summit, arguably the most important one is mobilising the finance to make all of these transitions. do you think, notjust the uk government but other governments that you are looking at how credible plans and ways to finance plans for that transition to a low carbon future? a low carbon future? you re absolutely a low carbon future? you re absolutely right, a low carbon future? you re absolutely right, finance . a low carbon future? you re absolutely right, finance is| a low carbon future? you re i absolutely right, finance is one a low carbon future? you re - absolutely right, finance is one of the big challenges so in the uk, the climate
roll out of low carbon heating. the roll-out of low carbon heating. the other side of roll out of low carbon heating. the other side of this is if those heat pumps can be powered by green electricity, powered by renewable energy, you really have green heating, don t you? how well placed is the uk in terms of renewable energy? t is the uk in terms of renewable ener: ? ~ ,., is the uk in terms of renewable ener: ? ~ ,., . , energy? i think in some ways exceptionally energy? i think in some ways exceptionally well energy? i think in some ways exceptionally well placed. - energy? i think in some ways| exceptionally well placed. we energy? i think in some ways - exceptionally well placed. we have emissions down to about 70% from 1990, roughly have them in the last ten years so that shows how quickly change can happen but having said that we are asking our electricity system to do much more than we have in the past, laying a big role in home heating, heat pumps in particular, but also