blue ice berg melting in the sea

ECA Viewpoint – Complexity is no excuse to ignore economics when setting net zero targets

Oct 31, 2019

UK government policy is now targeting zero carbon emissions by 2050. This requires specific interventions that could be very expensive. A least cost or least regrets analysis framework is therefore required to minimise the burden for society. However, the UK government’s climate policy advisory body, the Committee on Climate Change (CCC), considers the orthodox approach to evaluating such a policy – a Cost Benefit Analysis (CBA) – to be totally unsuitable in this case. This seems a premature conclusion. READ ECA VIEWPOINT HERE