The UK is already legally committed to an 80% reduction in carbon emissions by 2050 (relative to 1990 emission levels) and in 2017, successfully lowered emissions to 43% below 1990 levels.  However, according to the Committee on Climate Change, the UK is unlikely to meet its targets for 2023 – 2027.  So, just how realistic or achievable is the new ‘net-zero’ target?

The transition to a zero-carbon economy will require a concerted effort and action by all sections of society.   It requires the right policies and government funding to support businesses to achieve this new target, whilst maintaining a balance with all the other pressures being faced across industry.

According to the UK Committee on Climate Change (CCC) it will cost 1 to 2 percent of GDP each year (approximately £50 billion per year) to achieve net-zero by 2050.  However, other sources speculate that this cost could be considerably higher when considering the impact on different sectors of the economy.

Whilst the CCC believe it is technically feasible to achieve net-zero carbon emissions by 2050, it will clearly be challenging.  The UK has already set carbon budgets and developed policies on the path to an 80% reduction in GHG emissions by 2050.  However more needs to be done to accelerate the progress already made by the UK as illustrated below.