Jeremy Corbyn has promised to create an energy policy “for the 60 million, not the Big Six” if he becomes Prime Minister.

In his ‘Environmental Manifesto’, the Labour leader says he aims to deliver clean and affordable electricity and heating by promoting the growth and creation of local companies.

Mr Corbyn, who is battling Owen Smith for the Labour leadership, adds: “We will act to protect the future of our planet, with social justice at the heart of our environment policies. We will create a low carbon economy using our National Investment Bank and we will deliver an energy policy for the 60 million, not the Big Six energy companies, championing community-owned renewable energy.”

A government led by Mr Corbyn would set a target of generating 65% of the UK’s electricity from renewable sources by 2030, claiming to create more than 300,000 jobs in the industry.

He also pledges to ban fracking because he believes it is “not compatible with our climate commitments and will cost the country heavily in the long term”.

The manifesto includes plans to “honour” the Paris agreement, insulate four million homes, build one million new carbon neutral houses, phase out coal by 2020 and adopt EU environmental regulations.

The launch of the document follows Jeremy Corbyn’s pledge to establish a £300 million hi-tech research agency to help tackle energy security and climate change.