Letter: It’s time Government seized the opportunity of carbon pricing.
The UK needs to achieve net zero within 30 years, but the time for urgent action is now.
The UK does not yet have a comprehensive strategy to facilitate and deliver its transition to net zero. If the Government is to achieve this target, it must move quickly to deliver a concrete plan of action for achieving it, ensuring the poorest in society - and our economic competitiveness - are protected against any costs impacts of decarbonisation.
Carbon pricing may yet provide a crucial part of the answer to the UK’s absent net zero implementation plan. Whilst pricing emissions of CO2 and other greenhouse gases would by no means provide the entire solution to the net zero problem, carbon pricing could certainly play a significant role in emissions reduction.
Over the next three months, we will be participating in an independent Commission that will explore the most fair and effective way of using carbon pricing to drive the transition to net zero. We will consider the practicalities of extending carbon pricing more broadly across the UK economy, as well as the various ways in which the revenue might be used to compensate people for increased costs, to foster innovation and to support the transition of high-carbon industries. This work is supported by the Zero Carbon campaign and we are participating on a pro bono basis.
As Britain prepares to host world leaders at COP26 in Glasgow in November 2020, the UK has an opportunity to take the lead in the global transition towards net zero. We hope the work of the Commission can make a positive contribution to policy development in advance of this crucially important event.
If you would like to respond to our call for written evidence, please visit the policy page on our website.
Lord Adair Turner, Senior Fellow, Institute for New Economic Thinking & Chair, Energy Transition Commission
Nick Butler, Energy Commentator, The Financial Times
Professor Paul Ekins, Professor of Resources and Environment Policy, Bartlett School Environment, Energy & Resources
Professor Sam Fankhauser, Director, Grantham Institute at LSE
John Sauven, Executive Director, Greenpeace
Dr. Rhian-Mari Thomas, CEO, Green Finance Institute
Baroness Worthington, Founder, Sandbag & co-author of the UK’s Climate Change Act
Georgia Berry, Director, Sustainable Business and Communications, OVO Energy and former Downing Street adviser on energy policy
