FIRST review of its kind will assess how the UK can maximise economic growth opportunities from its transformation to a green economy.
At the heart of Net Zero Review is a priority to ensure a fair balance of contributions from all those that will benefit, including considering how to reduce costs for low income households.
“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”, Exchequer Secretary to the Treasury, Simon Clarke, commented.
“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 road map for an economy that is cleaner, more efficient, and works for everyone, while preserving our planet.”
This review is a major step towards the UK achieving net zero emissions by 2050, after becoming the world’s first major economy to legislate to do so earlier this year.
The review will also consider how to ensure emissions can be cut without seeing them exported elsewhere.
The Treasury will be drawing on evidence from experts, as well as those that will be impacted.
“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”, Chancellor of the Exchequer, Sajid Javid, said.
“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.”
A final report will be published in autumn 2020, ahead of the UK hosting the UN climate change conference in Glasgow in November.