Lorem ipsum dolor sit amet, consectetur adipiscing elit. Curabitur eleifend tortor nec augue pretium
A single fossil-fuel price shock of the magnitude seen in 2022 is likely to be more expensive for the UK than the total cost of achieving net zero by 2050, the Climate Change Committee (CCC) has revealed.
In a recent report, the government’s climate advisers explain how, in all scenarios, achieving net zero is more cost-effective than reliance on fossil fuels, and brings health and wellbeing co-benefits.
The cost of net zero is estimated at around £4bn a year, or close to £100bn by 2050, while energy bill support in 2022-23 alone, following Russia’s invasion of Ukraine, reached £41.6bn.
Separate analysis by the Energy and Climate Intelligence Unit indicates that the fossil fuel price shock has cost the UK economy approximately £183bn over four years.
The CCC report came just days before the International Energy Agency warned that the Middle East war had created the “largest supply disruption in the history of oil markets”, with prices exceeding $100 a barrel.
“In light of current world events, it’s more important than ever for the UK to move away from being reliant on volatile foreign fossil fuels, to clean, domestic, less wasteful energy,” said CCC chair Nigel Topping. “Uncertainty about the future is reasonable. As such, it’s important that decision-makers and commentators are using accurate information to inform debates.”
For every pound spent on net zero, the benefits outweigh this by 2.2 to 4.1 times, according to the CCC analysis, which also estimates that the UK could save £40bn to £130bn in avoided climate damages by 2050.
Cleaner air, warmer homes, more active travel and healthier diets strongly outweigh downsides such as potential congestion from increased EV use, with these co-benefits estimated to provide a net benefit of £2bn-£8bn per year by 2050.
Solar geoengineering research funding has increased more than tenfold since 2020, driven mainly by tech billionaires and the UK and US governments.
That is according to a report from Germany’s Heinrich Böll Foundation, which shows that funding increased from less than $6m in 2020 to more than $60m in 2025. More than 80% of all organisations funding the controversial research come from the UK or the US.
Last year also saw the UK government-backed Advanced Research and Invention Agency unveil projects to receive new solar geoengineering funding, with research focused heavily on stratospheric aerosol injection and marine cloud brightening.
However, proposals to block sunlight reaching the Earth’s surface could have serious unintended consequences, while some scientists warn that geoengineering could reduce the drive to tackle the root cause of the climate crisis.
Of the 33 geoengineering funders that were either philanthropic foundations or investment firms last year, more than half stem from a technology-related venture. The report says that tech billionaires could be promoting geoengineering to preserve their wealth and “buffer the risk of climate policy”.
CDP, which runs the world’s largest independent environmental disclosure system, has announced that Google will help it build an AI-powered tool to transform how cities, states and regions use data to reduce risk and drive climate action.
Top talent at Google will support the creation of an open-source platform by integrating Google’s latest AI and cloud technology with CDP’s vast data set.
The new platform will offer tailored, actionable intelligence that helps leaders diagnose climate risks and identify the most effective pathways forward.
CDP said that subnational governments face escalating physical climate and nature-related risks, but lack an integrated, accessible way to fully understand their exposure, identify effective adaptation or mitigation actions, and signal their financing needs.
CEO Sherry Madera said: “We’re equipping subnational leaders with the insight to … drive meaningful, Earth-positive decisions at scale.”
Chris Seekings is the Deputy Editor of ISEP’s Transform magazine, which is published biomonthly for ISEP members. Chris’s role involves writing sustainability-related news, features and interviews, as well as helping to plan and manage the magazine’s other day-to-day activities.
