Net-Zero Carbon Emissions

Lord Bhatia Excerpts

Wednesday 21st April 2021 Grand Committee

[Lord Bhatia (Non-Afl) [V]]

My Lords, a whole-system approach enables decision-makers to understand the complex challenges posed by the net zero target and to devise solutions and innovations that are more likely to succeed. It is a discovery process combining structured approaches to understanding and managing physical factors—such as infrastructure and novel and advanced technologies—with broader perspectives on economic, behavioural and other issues, taking into account complex interactions. This systematic approach will help to manage the associated uncertainties, including technical and behavioural factors, and will require the use of both quantitative and qualitative approaches, including systems engineering.

Achieving net zero by 2050 is a system transformation challenge. A clear understanding of the entirety—[Inaudible]—an interconnected programme of work, driven by data and analytics, with responsibility aligned behind a single goal. A number of steps have to be taken to develop the analytical capabilities, flow of information and reporting needed to inform decisions, as follows.

First, the Government should require all regulators to develop an explicit first-order objective to support the transition to net zero by 2050. Secondly, to enable transparency and accountability across government, the Government should undertake and publish carbon emissions assessments for all public sector policies, including major infrastructure projects or investments.

Thirdly, the Government should bring together public sector funders to develop a bold, coherent, mission-driven programme of public sector research and innovation investment to achieve net zero. This body should have the level of authority to influence spending decisions across departments, influence the strategic direction of UKRI programmes and set out opportunities for leveraging business activity.

Fourthly, to support the development of decarbonisation technology and infrastructure, the Government should consider establishing a national infrastructure investment plan, with an explicit mandate to support the transition to net zero, to help manage risk, partner with the private sector and bring down the cost of finance. Fifthly, to help households, businesses and public service providers make the investment needed to deliver the transition to net zero, the Government should work with private sector financial institutions to establish frameworks and instruments to give them access to the required finance and support.

Sixthly, the Government should announce a clear, credible domestic plan for achieving net zero, to set an example that could help inspire international action and commitment under their presidency of COP 26 in Glasgow. They should build into their work the objective of fostering international action and international collaborations on trade, investment, finance, technology, capacity building and R&D.

[The Deputy Chairman of Committees (Baroness Barker) (LD)]

My Lords, there is a Division in the Chamber. The proceedings will be adjourned for five minutes.

--- Later in debate ---

[The Deputy Chairman of Committees (Baroness Barker) (LD)]

My Lords, we are ready to resume our debate. We return to the noble Lord, Lord Bhatia.

[Lord Bhatia (Non-Afl) [V]]

My Lords, getting to net zero will be a big challenge but will create millions of new jobs and improve the UK economy, which suffered huge job losses due to Covid-19.