It could cost over £100,000 per household, leading to zero measureable effect on the climate. Going down this rabbit hole looks like a diabolically bad idea, but it’s official UK government policy regardless of expense.
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The cost of reaching the government’s “Net Zero” target will be astronomical for the UK economy.
That’s according to analysis by two new reports published by the Global Warming Policy Foundation.
The reports find that decarbonising the electricity system and domestic housing in the next three decades will cost over £2.3 trillion pounds.
The final bill will surpass £3 trillion, or £100,000 per household, once the cost of decarbonising major emitting sectors like manufacturing, transport and agriculture are included.
This is the equivalent of a £100 billion HS2 project every single year.
According to the Committee on Climate Change (CCC) the costs for Net Zero in 2050 are ‘manageable’: “…we estimate an increased annual resource cost to the UK economy from reaching a net-zero [greenhouse gas] target that will rise to around 1–2% of GDP by 2050.”
Yet, the CCC has resisted attempts to have its calculations disclosed under FOI legislation. Even more remarkably, it has admitted that it has not actually calculated a cost for the period 2020–2049.
The decision by Parliament to undertake the complete decarbonisation of the UK economy is thus uncosted.
According to GWPF director Benny Peiser, the two new studies represent the first meaningful attempts to pin down the cost of net zero:
“Although the Committee on Climate Change claims that net zero can be achieved at modest cost, they have now quietly admitted that they have not actually prepared any detailed costing. Unfortunately, Parliament seems to have taken them at their word, and we are now embarked on a project that risks to bankrupt the country.”
Note for editors:
GWPF has today released a series of papers on the cost of Net Zero. Details here.
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Petition: Hold a referendum to scrap the UK’s policy of Net Zero CO2 by 2050
At 10,000 signatures, government will respond to this petition
At 100,000 signatures, this petition will be considered for debate in Parliament
via Tallbloke’s Talkshop
March 11, 2020 at 05:57AM
Iowa Climate Science Education 