Baroness Hayman
Main Page: Baroness Hayman (Crossbench - Life peer)
Baroness Hayman
To ask Her Majesty’s Government whether the Net Zero Review will take into account co-benefits, including those relating to (1) improved health, (2) productivity, and (3) employment, in calculating the costs and investments needed to reach net zero emissions.
Baroness Hayman (CB)
My Lords, I beg leave to ask the Question standing in my name on the Order Paper. I draw attention to my interests as set out in the register.
Baroness Penn (Con)
My Lords, the net-zero review will cover how the transition to net zero will be funded and assess options for where the costs will fall. This involves analysing the range of options for how households, businesses and the taxpayer could contribute to the costs of transition, as well as maximising opportunities for economic growth as we transition to a green economy. We will need to evaluate the trade-offs between costs, competitiveness, effects on consumers and impacts on taxpayers.
Baroness Hayman (CB)
I am grateful to the Minister for that reply, and for her recognition that costs are not the only issue to be taken into account. The Covid crisis demonstrates to us every day the need to assess the effects of individual policies in the round, not simply against a single metric. So does the Minister agree that the magnitude of the threats from unrestrained climate change means that when we assess the cost of measures to meet our net-zero target, we need also to take into account the benefits to health and employment, and to sustainable economic recovery? Could we not set an example of good practice in overall impact assessment of climate measures as part of our preparations for COP 26 next year?
Baroness Penn (Con)
The noble Baroness is absolutely right to say that we need to look at these issues in the round. She referred to the impact of the Covid crisis, and to our aims for a green recovery. The Government have put huge emphasis on a green recovery, because not only will that help us meet our net-zero target in the longer term, but it has been shown that, in the shorter term, such policies bring extra economic benefit in their own right—and that is the exact approach the Government are taking.