Energy secretary hails £100bn milestone in this parliament and says it is ‘only the start of what we want to achieve’

Ed Miliband has hailed a boost to UK jobs and growth as government data reveals that private sector companies have pledged more than £100bn in investment into the green economy so far in this parliament.

Offshore wind, solar power and the electricity grid make up the bulk of the planned investment, most of it between 2024 and 2031, which will go to all regions of the UK and comes from a mixture of UK companies and overseas sources including the EU and Japan.

Prime minister was forced to row back on some policies despite strong support among voters for climate action

Keir Starmer has faced a problem no Labour government has needed to deal with before. His energy and climate policies – core to solving the cost of living crisis – have come under attack from opposition parties, which have made dismantling the agenda one of their top priorities, second only to immigration, in their pitch to voters.

This is new in British politics, where a cross-party consensus on the climate and environment has held at least since the days of Margaret Thatcher. She warned the UN of the climate crisis in 1988; David Cameron in 2006 urged voters to “vote blue, go green”; Theresa May enshrined in law the requirement to reach net zero greenhouse gas emissions by 2050; Boris Johnson championed the Cop26 UN climate summit in Glasgow in 2021; even Rishi Sunak only tried a partial rollback of green policies as a last desperate throw before calling an election.

Apart from effort to electrify, there were geopolitical tensions around climate science and the 1.5C goal at pre-Cop31 climate talks

Electrifying the world – with electric vehicles, electric heating and cooling, and modernised heavy industry – could be the next biggest step towards phasing out fossil fuels, replacing the 80% of global energy that still comes from hydrocarbons. As using electrical energy is much more efficient than combustion, the move would save billions of dollars for consumers and businesses – global energy demand could be halved, according to one estimate.

For decades, electrification has been a nerdish backwater of global climate action. But in the last two weeks, at preparatory talks in Bonn before the forthcoming UN Cop31 climate summit, the subject finally took centre stage.

Climate minister Chris Bowen says country must prepare for changing world and can play bigger role in reducing emissions

Australia will find exporting fossil fuels increasingly difficult but can switch to exporting clean energy products, the president of the next UN climate negotiations has declared.

Speaking at a climate conference in Bonn, Germany, Chris Bowen, Australia’s minister for climate change and energy, argued his country had led the global push to “transition away from fossil fuels” – based on the rapid growth of renewable energy and batteries in its domestic power grids – and that its economy could manage the switch.

Government plan to de-link gas and electricity prices aims to reduce bills for consumers after global surge in prices

Households in England, Scotland and Wales could save nearly £200 a year on their energy bills if the government stepped into the market to act as the sole buyer of electricity, according to a thinktank.

The research found that public procurement of electricity, meaning the government would become the “single buyer” of power before it is resold to consumers, could shave billions of pounds from electricity prices.

Third of world’s energy needs should come from electricity by 2035, says Murat Kurum, as priorities set out for this year’s UN climate summit

The world should aim to meet a third of its energy needs from electricity within a decade to cut greenhouse gas emissions, the host of the next UN climate summit has said.

While about a third of global electricity generation already comes from renewable sources, other energy-intensive sectors – chiefly transport, heating and industries – have lagged behind. Close to four-fifths of final energy still comes from fossil fuels, as a result.

Experts say increased use of crops for fuel is ‘dangerous game’ that could send food price inflation soaring

Demand for biofuels is likely to leap by nearly a third this year, which could send food price inflation soaring further and push the world closer to a global food crisis.

More countries are opting to increase biofuel use as the price of oil has jumped to nearly $100 a barrel after the US-Israeli attacks on Iran and the closure of the strait of Hormuz.

Energy specialists say abandoning net zero and increasing oil and gas drilling would cause more instability for Britons

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Abandoning net zero and drilling for more oil and gas in the North Sea would be a massive setback for the UK and would not help the economy, leading experts have said in response to claims by the former prime minister Tony Blair.

“This is a bizarre intervention to make during the worst May heatwave on record and when the Iran crisis is providing yet more evidence of the enormous costs of oil and gas,” said Ed Matthew, the UK programme director at the E3G thinktank. “Clean energy is cheaper energy – it protects our bills from prices skyrocketing, its running costs are virtually zero, and it doesn’t cause climate change which threatens economic collapse ... The government should ignore Blair’s ideological nonsense and focus on what works.”