The Public Accounts Committee has said that the government has “no clear plan” for how the transition to net zero will be funded, nor a reliable estimate of what net zero will cost consumers, businesses or the government itself.
The difficulty of forecasting the costs of decarbonisation has dominated the Treasury’s Net Zero Review, carrying on a theme from the interim review, published last year.
In the UK’s first Green Gilt, £10 billion has been raised for projects like zero-emissions buses, offshore wind and schemes to decarbonise homes and buildings in this financial year.
The UK’s Treasury Committee has launched an inquiry into HM Treasury’s role in the decarbonisation of the country’s economy, just a day after reports suggested it was ready to “fiddle” with binding climate targets.
The search is on for a fund manager to manage the UK’s £400 million electric vehicle (EV) charging infrastructure investment fund (CIIF) after the Treasury launched a request for proposals via the Infrastructure and Projects Authority (IPA).
The government is preparing to procure the services of a private fund manager to raise £200 million in support of its electric vehicle charging infrastructure fund announced as part of November’s Budget.
