Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government what estimate they have made of the overall cost of net zero policies to the British economy.

The costs of climate action are far outweighed by the cost of inaction.

The government’s Impact Assessment (IA) for Carbon Budget 7 estimates the net cost to deliver net zero over the period 2025-2050 at around £755 billion, with the total quantified benefits estimated to be £1.62 trillion, delivering a net present value of £865 billion.

The costs include a mix of private and public sector investment we estimate to upgrade infrastructure, transport and heating systems.