Carbon Emissions
The question
To ask the Secretary of State for Energy Security and Net Zero, what the total expenditure was on achieving net zero targets in each year since 2015 by sector; and what the corresponding estimated total reduction in global emissions was in the same period.
Answered by Kerry McCarthy
The Office of Budget Responsibility (OBR) published its analysis of the cost of reaching net zero by 2050 in chapter 3 of the July 2021 edition of its UK Fiscal Risk Report. As the OBR has noted, “the costs of failing to get climate change under control would be much larger than those of bringing emissions down to net zero.
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