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Letter: Treasury decarbonisation funding review

1. Outline

This is a letter from CCC Chairman, Lord Deben to Simon Clarke MP about the Treasury decarbonisation funding review. It was sent following the recent commitment by the Treasury to take forward the Committee’s recommendation for a comprehensive Treasury review of how the transition to a net-zero economy by 2050 can be funded fairly.

2. Key recommendations

In summary our recommendations are:

  • The Treasury review should therefore develop a plan for funding decarbonisation and, most importantly, review the distribution of costs for businesses, households and the Exchequer.
  • The review should consider near-term as well as long-term decarbonisation funding needs and policy implications.
  • We plan to publish our advice on the sixth carbon budget, which will set out the path to Net Zero, in September 2020.