Thinktank: £33bn a year needed for net zero
The Institute for Public Policy Research (IPPR) estimates that £33bn of additional investment is needed every year for the next three decades if the Government is to meet its carbon emissions target of net zero by 2050.
The body argues that Government must accelerate its efforts to meet the challenging 2050 timeframe, as there is currently “insufficient policy action” from Whitehall.
The report highlights the decarbonisation of transport and buildings as the most important area for investment and says, “such an investment will help us tackle the climate and nature crises but crucially it can also help us secure a better quality of life for all and a fairer and more prosperous economy.”
The full statement can be viewed here.