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Conservatives must spend an additional $ 33 billion a year to achieve zero emissions by 2050 | Politics
Boris Johnsons' government must spend an additional $ 33 billion a year on measures to address the climate emergency if it wants to meet its goal of zeroing carbon emissions by 2050, according to a detailed analysis published Sunday.
Investments in low-carbon transport, including more infrastructure to recharge electric vehicles, better railways and better facilities for cyclists, are expected to increase by 12 billion a year, and spending on low-carbon homes and other buildings are expected to be increased by 10 billion a year.
The huge sums of extra spending required were produced ahead of Wednesday's budget by the think tank of the Institute for Research on Public Policy, which says the necessary steps will not only help tackle climate change, but will provide also an economic boost and will help Johnsons ambition to level the country. .
Last summer, the government promulgated a commitment requiring the UK to reduce all greenhouse gas emissions to zero, replacing the previous commitment to reduce them by at least 80%. compared to 1990 levels. But the IPPR contends in its study that to do this, ministers will have to relax their own fiscal rules, which cap borrowing for investment at 3% of GDP per year.
Former Labor leader Ed Miliband, co-chair of the IPPR environmental justice commission, said the budget must put climate change at the heart of its concerns.
It will require investment, but making these decisions will create hundreds of thousands of jobs, improve our natural environment, reduce air pollution and make Britain a better place to love, has he -he declares. It makes economic and environmental sense.
In order to reach net zero within 30 years, the UK will have to use renewable energy, with industry mainly using carbon-free processes. All homes and other buildings will need to be fully insulated and public transportation will need to be greener and more efficient.
The government currently spends about 17 billion a year on climate and environment related measures, which, according to the study, would not even be sufficient to reach its previous objective of reducing greenhouse gas emissions by 80% by 2050. The IPPR calculates that it would need to spend an additional $ 11 billion to achieve this previous goal.
Green MP Caroline Lucas, another co-chair of the Environmental Justice Committee, said that the economic shock of the coronavirus on the economy made investing in the green economy even more necessary.
This budget will be a litmus test of whether the government understands the climate crisis and, on the evidence, it is woefully below what is needed, said Lucas.
With probable economic shocks due to the coronavirus epidemic and the acceleration of the climate emergency, investing in a new green deal is now more important than ever.
It would not only help us cope with climate and natural emergencies, it would transform almost every aspect of our economy and society and deliver on government promises to upgrade the nation by making our economy fairer and more responsive. Future.
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