New reports from ippr and Cambridge Econometrics show how tackling climate change is good for UK economy
Wed 03 September 2014
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A new report and illustrated guide from the Institute for Public Policy Research (IPPR) demonstrates how tackling climate change can also help address some of the economic and social challenges facing the UK. A separate report by Cambridge Econometrics and University College's Paul Ekins says that meeting the CCC's emissions reduction targets will benefit the economy.
The ippr report’s authors - Will Straw, Reg Platt and Jack Williams - argue that, while addressing climate change is important in its own right, taking action can also help to address some of the greatest challenges facing the UK.
In particular, the report argues that by doing so, the Government can raise living standards, tackle fuel poverty and reduce emissions by reforming energy and transport markets and increase energy efficiency; address capacity constraints in energy and transport by creating smarter and more decentralised systems. it can also encourage new sources of investment; help create well-paid and decent jobs in every region by developing a low-carbon industrial strategy and provide the conditions for investment in low-carbon infrastructure.
A separate report by Cambridge Econometrics - ‘The Economics of Climate Change Policy in the UK’ - written in collaboration with Pr. Paul Ekins of University College London, shows that meeting the UK's climate targets as recommended by the independent Committee on Climate Change (CCC) makes clear economic sense for the UK.
The report, commissioned by WWF-UK and based on Cambridge Econometrics’ rigorous modelling of the UK economy, compares a scenario where the UK meets the first four carbon budgets recommended by the CCC (which requires a cut in emissions of around 60% by 2030 compared to 1990 levels) with a scenario where the UK does little to reduce its emissions.
The report finds that cutting the UK’s carbon emissions in line with these budgets would, by 2030, increase UK GDP by 1.1% in net terms, result in at least 190,000 additional jobs being created across the UK economy and mean that households are financially better off compared to a scenario where little is done to reduce emissions.
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