William Eichler 09 March 2020

Over £30bn annual investment needed to reach net zero by 2050

Over £30bn annual investment needed to reach net zero by 2050   image

An estimated £33bn of additional investment is needed every year for the next three decades if the Government is to meet its carbon emissions target of net zero by 2050, think tank says.

IPPR has called on the Government to ‘show real leadership’ on the climate and nature crises by investing more on decarbonising the economy.

It argues that the Government should go faster than its current legal target of net zero by 2050, but says that even this timeframe ‘remains challenging’ because of insufficient policy action from Whitehall.

IPPR estimates that £33bn of additional investment is needed every year from now until 2050 to meet the Government’s legal target. This is less than the UK spends on defence every year.

Transport and buildings are two of the most important areas for public investment, the think tank says.

Decarbonising transport by, for example, building out and upgrading the railways will require about £12bn additional annual investment.

Reducing emissions from buildings will mean a large scale Government funded retrofit programme to support making all of our homes more energy efficient.

IPPR also calls for more investment in nature, farming and industry, and emphasises the importance of social justice when delivering this investment to ensure no communities are left behind.

‘What is needed is nothing less than a step change of the scale of public investment in the green transition,’ it says.

‘Such an investment will help us tackle the climate and nature crises but crucially it can also help us secure a better quality of life for all and a fairer and more prosperous economy.’

Time for a council tax precept to fund CCTV image

Time for a council tax precept to fund CCTV

The crisis in funding for CCTV systems is not being addressed by the government or the police and is leading to the curtailment of this vital service in local authorities across the country. How can we ensure that communities that want this service continue to receive it, asks Tom Reeve.
SIGN UP
For your free daily news bulletin
Highways jobs

Senior Database Administrator

Essex County Council
£42000 - £49422 per annum
Senior Database AdministratorPermanent, Full TimeUp to £49,422 per annumLocation
Recuriter: Essex County Council

Senior Commissioning Officer - Community Catalyst

Essex County Council
Up to £35026 per annum
Senior Commissioning Officer - Community CatalystFixed Term, Full TimeUp to £35,026 per annumLocation
Recuriter: Essex County Council

Resource Centre Worker

North Yorkshire County Council
£20,493 - £24,982 per annum, pro rata
We work closely with families and other professionals to ensure that we have sound knowledge of the children we are caring for and are able to... Harrogate, North Yorkshire
Recuriter: North Yorkshire County Council

Relationship Manager

iChoosr
Competitive
We are looking for an engaging and amiable professional with experience working for, or with, local authorities and an eye for detail. United Kingdom
Recuriter: iChoosr

Adults Service Manager - South

Essex County Council
£58727 - £66963 per annum
Adults Service Manager - SouthFixed Term, Full Time£58,727 - £66,963 per annumLocation
Recuriter: Essex County Council

Public Property

Latest issue - Public Property News

This issue of Public Property examines how how flexible workspaces can lead the way in regeneration for local authorities, Why local authority intervention is key to successful urban regeneration schemes and if the Government’s challenge of embracing beauty is an opportunity for communities.

The March issue also takes a closer look at Blackburn with Darwen Council's first digital health hub to help people gain control over health and care services.

Register for your free digital issue