Carbon Emissions: Cost Benefit Analysis
The question
To ask the Secretary of State for Energy Security and Net Zero, whether he has commissioned a cost-benefit analysis of the Government's net zero target.
Answered by Kerry McCarthy
The UK was the first country to set legally binding carbon budgets and the first major economy to establish a net zero target in law. An Impact Assessment of the level of the Sixth Carbon Budget was published at the time, including a cost-benefit analysis which showed the economic costs and benefits of net zero. Without the shift to renewable energy, we will continue to be exposed to volatile fossil fuel markets and the cost of living crises households had to live through in the last Parliament.
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