"As If The Stern Report Never Happened" - Treasury Stance Torching Remaining UK Climate Credibility
Boris Johnson faces a significant test of his leadership before the Cop26 climate summit as the chancellor and business secretary are at war over the imminent plan for reaching net zero carbon dioxide emissions. The government is poised to publish its long-awaited net zero strategy on Monday, setting out how the UK will meet its targets to cut CO2 emissions by 78% by 2035 and reach net zero by 2050. This will also include the heat and buildings strategy for insulating draughty homes and phasing out gas boilers, along with a massive expansion of offshore wind, and building electric vehicle charging networks.
But green campaigners are concerned that the strategies, put forward by Kwasi Kwarteng are being hamstrung by opposition from Rishi Sunak, who is refusing to provide adequate funding. Failure to put forward a viable and well-funded blueprint for reaching net zero would destroy the UK’s credibility at a crucial time, campaigners have said, just weeks before the UN Cop26 climate talks, which begin in Glasgow at the end of this month.
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The Treasury is also due to publish on Monday its own net zero findings, in the form of a review that is expected to set out the costs of reaching net zero. The Treasury net zero review is controversial among green experts, as the Guardian understands it will not take account of the many benefits of cutting emissions, including green jobs, lower energy bills and health improvements from cutting air pollution, as well as reducing the impacts of extreme weather. “It’s as if the Stern review never happened,” said one expert, referring to the landmark 2006 study by climate economist Nicholas Stern, which found the short-term costs of cutting emissions were far outweighed by the economic benefits. “They have stuck to their old pre-Stern models of cost.”
Green campaigners believe the Treasury review will be seized on by climate sceptics in the Tory ranks. They are also concerned that lobbying by the fossil fuel industry has persuaded the government to make hydrogen a leading part of its net zero strategy. That would be a mistake, they argue, as some forms of hydrogen are not low-CO2, but require fossil fuels to be converted into hydrogen and the resulting CO2 stored, in contrast with genuine green hydrogen methods, by which hydrogen is manufactured using renewable energy. “Hydrogen boilers are greenwash,” said Matthew. “They will massively increase energy bills. If they’re considering hydrogen, that’s a bad sign.”
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https://www.theguardian.com/environment/2021/oct/16/boris-johnson-climate-credibility-at-stake-cop26-summit
