Source · Select Committees · Business and Trade Committee
Recommendation 8
8
Paragraph: 46
The upcoming Net Zero Review is critical in ensuring fairness across society in the transition...
Recommendation
The upcoming Net Zero Review is critical in ensuring fairness across society in the transition to net zero. This should be published as a matter of priority to maximise the time available, both, to consult and engage the public and businesses. We recommend that BEIS work closely with HM Treasury to ensure that the Net Zero Review be published as soon as possible, and at the very latest, alongside the Net Zero Strategy, expected in September.
Paragraph Reference:
46
Government Response
Not Addressed
HM Government
Not Addressed
The Net Zero Review is one step in the journey towards decarbonisation. It forms part of a cross-government effort to set the UK on a path to achieving net zero. Sectoral decarbonisation strategies already or shortly to be published also consider the distributional impacts of the transition to net zero and action the Government takes to ensure impacts are inclusive. The Net Zero Strategy will also set out further detail on specific policies and on the government’s vision for the transition. 40. We are considering both the benefits and the costs of different pathways for decarbonising the energy system holistically across Government. We remain committed to working with industry and consumers to keep costs down and identify how costs can be allocated in a way that incentivizes user behaviour that drives decarbonisation. 41. The Net Zero Review final report will be published in due course, and in advance of COP26. The final report is an analytical report that uses existing data to explore the key issues and trade-offs as the UK decarbonises. Against a backdrop of significant changes to the economy over the next 30 years, it will highlight the essential role of competitive markets in driving a low cost transition; discuss the importance of innovation and maintaining technology optionality over this decade; and, focus on the potential exposure of households and sectors to the transition, highlighting factors to be taken into account in designing policy that will allocate costs during the transition. It follows on from the interim report published in December 2020 and sets out the key findings from the research and analysis carried out as part of the Net Zero Review. 42. BEIS has also commissioned a project which is exploring how the UK can reach net zero in a fair, socially inclusive way. This is being led by the Carbon Trust in collaboration with leading professors in this area. A key part of this will be advice and recommendations on how we best ensure that vulnerable and underrepresented groups have their voices heard.