Source · Select Committees · Environmental Audit Committee
Third Report - Growing back better: putting nature and net zero at the heart of the economic recovery
Environmental Audit Committee
HC 347
Published 17 February 2021
Government response
Second Special Report - Growing back better: putting nature and net zero at the heart of the economic recovery: Government and Bank of England Responses to the Committee’s Third Report of Session 2019-21 · published 22 Jun 2021
Recommendations & Conclusions
6
Recommendation
Deferred
We further recommend that the Government establish clear and ambitious statutory targets for the state...
Recommendation
We further recommend that the Government establish clear and ambitious statutory targets for the state of nature, waste minimisation, water quality and air quality under the Environment Bill once enacted. (Paragraph 50) 72 Growing back better: putting nature and net …
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Government Response Summary
The government states that the Environment Bill creates a duty to set long-term, legally binding targets in priority areas and is working towards a public consultation on proposed targets for early 2022, thus deferring the actual establishment of targets.
10
Recommendation
Deferred
Para 82
It is a matter of grave concern that the carbon intensity of the UK corporate...
Recommendation
It is a matter of grave concern that the carbon intensity of the UK corporate sector remains aligned with global temperature rises that would be catastrophic. We welcome the news that the Bank of England is exploring how it can …
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Government Response Summary
The government states it is for the MPC to decide but notes the Bank of England will provide more information on its proposed approach to adjusting the Corporate Bond Purchase Scheme in the coming months, aiming to adapt by Q4 2021.
37
Recommendation
Deferred
Para 228
One of the most economically efficient ways to incentivise low-carbon choices would be through the...
Recommendation
One of the most economically efficient ways to incentivise low-carbon choices would be through the introduction of an economy-wide carbon tax. The Government should begin scoping work on a carbon tax to incentivise low-carbon changes across the whole economy.
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Government Response Summary
The government states that the Treasury’s Net Zero Review will consider the role of tax, alongside other levers, in meeting net zero, and highlights existing carbon pricing mechanisms like the UK ETS and Carbon Price Support.