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Written question asked by Graham Stringer (Labour) on Thursday, 17 October 2019, in the House of Commons. It was due for an answer on Thursday, 24 October 2019 (named day). It was answered by Kwasi Kwarteng (Conservative) on Thursday, 24 October 2019 on behalf of the Department for Business, Energy and Industrial Strategy.

Carbon Emissions

Question

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether her Department has received from the Committee on Climate Change an estimate of the costs of achieving net zero carbon emissions in each year from 2020 to 2049.

Answer

The Committee on Climate Change has not provided the Department with an estimate of the costs in each year from 2020 to 2049 for delivering the UK’s net zero target.

Costs are inevitably uncertain between 2020 and 2049 but the CCC estimate that the costs of delivering the net zero target will be equivalent to 1-2% of GDP in 2050. We will publish further detail in the impact assessment for the sixth carbon budget and for all policies which we take forward to deliver the net zero target.

In addition, HM Treasury are carrying out a review into the costs of transitioning to a net zero economy, as recommended by the CCC. The review will consider how to pay for this and how to achieve the transition in a way that works for households, businesses and public finances, as well as how we can ensure this is compatible with plans for a thriving and competitive economy.

Secondary information

Type
Written question
Reference
1585
Session
2019-19
Subjects
Costs Carbon emissions
Contains statistics
Yes
Link
View this Written question on www.parliament.uk