The Govt Net Zero Strategy is a pile of 💩 1/ Because there is no project plan to achieve ZNC - only "scenarios" and "ambitions" - so it's not a strategy ... and here's why ... newstatesman.com/comment/2021/1…
2/ HMT treats carbon as if it was merely "pollution" inside a stable system, which a market can price... but it is the destabilisation of a complex ecosystem *by the market itself* (aka capitalism) newstatesman.com/comment/2021/1…
3/ Treasury understands ZNC cannot be achieved through a market system without high inequality, energy insecurity and fiscal instability... so it's at war with the commitment... newstatesman.com/comment/2021/1…
4/ ... hence the illiterate statement (never evidenced) that borrowing to invest contradicts "polluter pays" - when we confiscate them wealth of big oil, gas and auto industries the polluter will have "paid".... newstatesman.com/comment/2021/1…
5/ ... and the ridiculous guesswork over BECCS and DAC... which need to absorb 81 MtCO2e a year in 2050 (!) to achieve ZNC under Treasury plans (now you see why Sunak is not giving interviews about this!) ... newstatesman.com/comment/2021/1…
6/ ... so the answer is borrow, invest and state control - even if you want to do CCS it has to be state directed... there is no alternative to state ownership and control of energy if we want to maintain security of supply in the transition newstatesman.com/comment/2021/1…
7/ The intellectual weakness and duplicity of HMT over ZNC makes me (a) sick (b) hopeful - because it illustrates the complete lack of credibility of market-led transition paths. The quicker we win this argument the better: newstatesman.com/comment/2021/1…
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