Treasury launches net-zero review

The Treasury has announced the launch of a net-zero review to determine how to end the UK’s contribution to climate change whilst maximising the opportunities for economic growth.

The department said a top priority for the review will be protecting low-income households and ensuring the costs of decarbonisation are fairly spread across society.

Chancellor of the exchequer Sajid Javid said: “The UK is leading the way on tackling climate change as the first major economy to legislate for net zero greenhouse gas emissions by 2050. We must all play a part in protecting the planet for future generations.

“This review is a vital next step in delivering that commitment, ensuring that we can end our contribution to global warming, while supporting growth and balancing costs, to avoid placing unfair burdens on families or businesses.”

The review will also consider how to prevent emissions from  being exported to other countries. A final report will be published in autumn 2020, shortly before the UK hosts to the COP26 climate summit in Glasgow.

Simon Clarke, exchequer secretary to the Treasury, said: “I have championed the environment throughout my life and political career so its humbling to launch this unprecedented review into how we end the UK’s contribution to climate change.

“Until recently people said that net zero was impossible, but this work is a giant step towards making it happen, enabling us to set out a roadmap for an economy that is cleaner, more efficient, and works for everyone, while preserving our planet.”

Steve Shine, executive chairman of renewable developer Anesco, commented: “We welcome the news that the government is looking at how best to accelerate and deliver the target of net zero. However, without a clear strategy and importantly accountability, we will not meet the original clean growth targets – let alone net zero.

“In the last year, we have only seen around a 2.5 per cent increase in renewables and the reality is we are not doing enough. The removal of fossil fuels from heat and transport systems will see electricity demands increasing significantly. Even greater levels of renewable generation will be needed, along with the electricity infrastructure to support them.

“At the present rate of growth, it’s simply not going to happen. It’s time for government to show its teeth and pursue positive action, not just give lip-service to this vital issue.”