Department for Energy Security and Net Zero written question – answered at on 8 May 2024.
To ask the Secretary of State for Energy Security and Net Zero, with reference to Table 16 of the Impact Assessment for the Carbon Budget Order 2021, published on 16 April 2021, if she will publish an annual undiscounted table of the costs and benefits of each option.
The Impact Assessment compared the costs and benefits of meeting net zero in 2050 for different options for the level of the Sixth Carbon Budget, including the level recommended by the Climate Change Committee which has since been voted into law. Costs and benefits were aggregated over 2020-2050 to reflect uncertainty around the precise annual profile. Given this uncertainty, the table below sets out the undiscounted costs and benefits over 5 yearly increments.
Table 1. Costs and benefits breakdown by sixth carbon budget options, Core pathway only
Costs and benefits relative to Option 1 (Do Nothing baseline of 2100MtCO2e) (£bn, undiscounted) | 2021-2025 | 2026-2030 | 2031-2035 | 2036-2040 | 2041-2045 | 2046-2050 | |
Costs (incl. capital & finance) | Option 2, Looser, 1105Mt | 34 | 88 | 160 | 217 | 277 | 381 |
Option 3, CCC level, 965Mt | 37 | 91 | 186 | 256 | 309 | 395 | |
Option 4, Tighter, 865Mt | 38 | 94 | 206 | 301 | 328 | 389 | |
Benefits (incl. fuel & emissions savings) | Option 2, Looser, 1105Mt | 2 | 68 | 182 | 357 | 526 | 739 |
Option 3, CCC level, 965Mt | 4 | 71 | 168 | 401 | 554 | 757 | |
Option 4, Tighter, 865Mt | 12 | 98 | 174 | 387 | 540 | 762 |
Yes2 people think so
No1 person thinks not
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