Review into how net zero future will be funded

The government has launched its Net Zero Review, to assess how meeting the UK’s climate commitments of achieving net zero also supports growth and balances 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 next year.

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 ensure the UK cuts its emissions without seeing them exported elsewhere. 

The Treasury will consult widely, drawing on evidence from experts, as well as those that will be impacted.

Exchequer Secretary to the Treasury, Simon Clarke 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.”