Leading climate scientists have called for Theresa May to make her “legacy” a target to cut greenhouse gases to zero by 2050. A group of experts have written to the prime minister calling for her to enshrine a target for “net zero” emissions in national law. Experts claim the target is necessary to avoid dangerous climate change. The government said the UK already leads the world in tackling global warming. In their letter, the scientists said the evidence was “unequivocal” that avoiding dangerous climate change means eliminating or offsetting all carbon emissions – not just reducing them.
BBC 31st May 2019 read more »
More than 120 UK businesses have sent a letter to Theresa May urging the prime minister to legislate for a net zero emissions target in 2050, a bold climate goal that could become one of her most important legacies if passed before she leaves office.
FT 31st May 2019 read more »
The Greens’ surge in last week’s European Parliament elections confirmed that a growing share of voters want their politicians to do something about climate change. But it is far from clear that the majority is ready to pay the higher energy and fuel prices that would result from any serious effort to limit the rise in global temperatures – and that would hit some groups much harder than others. Economists, who for years have been debating the best ways to fine-tune carbon pricing mechanisms, are now turning their attention to the bigger challenges of political economy. A paper by IMF staff, published earlier this month, shows just how far off we are from making carbon as expensive as it needs to be. Many major economies could achieve the emissions cuts pledged under the 2015 Paris accord with a carbon price of $35 per tonne, they calculate – a level that would roughly double coal prices and add 5 per cent to 7 per cent to pump prices for road fuels. But to contain global warming to 2 degrees centigrade above pre-industrial levels would require a global carbon price of about $70 per tonne, they estimate. At present, despite a proliferation of national and sub-national carbon taxes and trading schemes, the average global carbon price is $2 per tonne. Such a steep increase will only be possible if governments find ways to persuade voters that the burden is being shared fairly – both domestically and between countries.
FT 30th May 2019 read more »