The government has officially launched the first ever Net Zero Review, which will assess how the UK can maximise economic growth and reduce costs for households as the country looks to decarbonise.
The review will consider how the UK can meet it’s net zero emissions by 2050 pledge whilst considering a fair balance of contributions from those that will benefit, including low-income and vulnerable households. The review will also explore new techniques to cut emissions without seeing them exported elsewhere.
The Treasury will consult industry experts and those likely to be impacted before the final report is published in autumn 2020, ahead of the UN COP26 climate change conference due to be held in Glasgow.
Chancellor 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 and businesses.”