Tree planting will play an important role in meeting net zero greenhouse gas emissions. By early next year we will consult on a Tree Strategy for England which will consider tree planting rates in the context of net zero.
The Committee on Climate Change (CCC) estimate the cost of net zero to be 1-2% of GDP in 2050, and the Government’s initial high-level analysis falls within the same range. These figures do not include the significant benefits from decarbonising the economy, including opportunities from clean growth, which could offset a proportion, or potentially all of these costs.
HMT has accepted the CCC’s recommendation for HMT to conduct a review into the costs of decarbonisation, the world’s first comprehensive review by a finance ministry into the costs of transitioning to a net zero economy.