The UK government has announced plans to introduce a new import carbon pricing mechanism on imports of iron, steel, aluminium, ceramics and cement from overseas.
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.
Despite growing calls from the energy sector and beyond, the Treasury looks set to reject the removal of VAT on green products such as heat pumps and solar.
The Public Accounts Committee (PAC) has criticised a “lack of leadership and coordination” from HMRC and the Treasury in targeting environmental action.
Current± spoke to companies, groups and charities operating in the energy and environmental space to gauge their reactions to the fabled red briefcase.
Net zero will require £33 billion of extra spending per year until 2050, according to new analysis from thinktank IPPR's Environmental Justice Commission.
