September 11, 2014
By Jason Anderson, Head of EU Climate and Energy Policy, WWF European Policy Office
A Cambridge Econometrics report released yesterday responds to the simple question: what would the economic implications be of meeting the UK’s carbon reduction goals to 2025 (the ‘fourth carbon budget’), compared to a scenario where they slow down their mitigation efforts?
The answer, of course, is not so simple to come up with, which is why the modellers’ expertise was necessary. The implications of cutting carbon are broad – more investment in low-carbon infrastructure and industry, increases in the associated employment, a faster shift from fossil to renewable energy, lower health costs due to reduced air pollution, and so on.
The net result is a major benefit to the economy, with household income rising £565 per year by 2030, heathcare costs down as much as £288m per year, a £5.7bn increase in government revenue, a 1.9% rise in production […]