Prime Minister Boris Johnson has committed the UK to achieve net-zero carbon emissions by the year 2050.
This has made the United Kingdom the first major economy to commit to net-zero by 2050 and also one of the first to phase out petrol and diesel car sales by 2030.
Although these ambitious goals are crucial, considering the recent UN report that exposed how climate change is already affecting every region across the globe; much controversy lies in the cost and feasibility for the UK.
The office for budget responsibility estimated that the transition to net-zero emissions will cost the country £1.4 trillion. However, the Treasury has not yet published its full analysis of the costs, which has been delayed for several months.
Ministers have addressed that families will need to bear the cost, assuring that not acting would cost the country even more in the long run.
A report by the National Infrastructure Commission claims that the poorest tenth of households in the United Kingdom will have to pay an extra £80 per year in bills by 2050, and the richest tenth an extra £400.
Other measures to be enforced include the replacement of gas boilers (generally with heat pumps), a ban on new petrol and diesel vehicles starting from 2030, phase-out of coal power by 2024, and potential restrictions on the sale of homes without insulation.
In addition, the country plans to invest in renewable energy such as wind, as well as other technologies such as hydrogen power.
This pledge has caused great irritation for conservatives in the country. Tory circles have expressed concern concerning how the additional costs will impact lower earners.
- Electric cars can cost up to 50% more than petrol equivalents
- Heat pumps can cost up to £10,000 to install
- Retrofitting a home with insulation can cost £10,000+
Many are also concerned about the loss of the £20 billion fuel duty paid by motorists every year after the switch to electric cars. It has been suggested that the government will need to introduce new taxes to make up for this deficiency.
Additional concerns are regarding the increase in fuel bills as subsidies are increased on renewables and the threat against manufacturing jobs due to higher costs of power.
A report in July by thinktank Onward, titled “Qualifying for the Race to Net-Zero” explained that 3.2 million workers in total will need to upskill and retrain for the UK to achieve the 2050 net-zero target. Sectors most affected include construction and transportation in which 30% and 26% of workers will require upskilling respectively.
The UK Government launched a Green Jobs Taskforce in 2020 to address these concerns. The overarching goal of this Taskforce is to ensure that the Government meets its commitment to employ two million adults in the UK in “green-collar” jobs by the year 2030. Those in the Taskforce will support the upskilling and placement of unemployed people and those in transitioning industries into new, skilled jobs.
The Local Government Association (LGA) has provided an outline as to how the UK could create up to 700,000 new green jobs over the next ten years, and 488,000 by 2050. Predictions for the highest growth were in the renewable energy generation sector, energy-efficient products, and low-emission vehicle manufacturing.
The UK Government is undoubtedly faced with many challenges in reaching its admirable goal of net-zero. Many within the public sector, including Business Secretary Kwasi Kwarteng, have expressed the Government’s desire to try to “help people make the transition” over the next years. However, only time will tell if the UK is willing and able to achieve its goal at any cost.
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