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What to make of @theCCCuk report then? First up it is a remarkable piece of serious, heavy-weight work. This is independent advisors working as they should. 👏👏👏 theccc.org.uk/publication/ne…
Second, the scale, reach, and pace of the net zero endeavour is gargantuan. It really does touch every corner of our lives, every part of the economy. That is something many still struggle to get their head round. This story barely scratches the surface. businessgreen.com/bg/news/307495…
If you want a digestible look at all the various recommendations, this is a good starting point. Like I say, this is about the environment and the economy. I.e. everything. businessgreen.com/bg/analysis/30…
Third, the economics are remarkable. Costs of 1-2% of GDP in 2050 are impressive. But that's just part of the story. A decade ago it was 1-2% to get an 80% cut. Everything we know about outperforming clean tech cost curves suggest net zero could yet go positive on the economics.
Plus, the CCC is clear it has not waded into the weeds of complex economic co-benefits. Air pollution, water pollution, physical health gains, mental health gains, and, of course, reduced climate risks would all deliver economic gains.
In other words, done right the net zero transition will almost certainly be net positive to the economy. And that is why the response from top business groups has been almost universally positive (with some caveats).
There's a 'but' coming, isn't there? The way the report is set out makes it all sound so sensible and manageable and common sense, but step back and what immediately strikes is that pace and scale. This is unprecedented.
Every home, every office, every factory, every car, every street, every farm, every shop, everything transformed. All before I retire. Transformed for the better, yes. But still transformed. It's big. Bigger than you think.
And while the CCC is too politically savvy to put the boot in at such a sensitive time, it is also a quietly damning indictment of current policy efforts. Much more political action is needed. More leadership, clearer investment signals, in short, more courage.
The CCC has actually given the government some breathing space by not calling for changes to current carbon budgets at this time. But that will surely come. Which means more cash, more policies, and more investment all needed.
And all of this needs to be sustained through electoral cycles and when climate change is knocked out of the headlines by, I don't know, egotistical defence ministers and the scrapes they get into.
Plus, there is the international context. The net zero transition only works if it is a model for others to follow ASAP, bringing export opportunities with it for the UK. @MakeUK_Press makes the fair point today that concerns about competitiveness are not going to go away.
All these challenges are surmountable, but they all point to the critical importance of political and business leadership. If this inspiring vision is to be turned into a reality policies need to drive it and businesses and investors need to act. Fast.
Anyways, much more analysis and reaction to come throughout the day @BusinessGreen businessgreen.com/bg/news/307495…
