RenewableUK has commented on new report titled “The Economics of Climate Change Policy in the UK”, which was commissioned by WWF and written by Cambridge Econometrics in collaboration with Professor Paul Ekins of University College London.
The report shows that meeting the first four carbon budgets recommended by the Committee on Climate Change, requiring a cut in emissions of around 60% by 2030 compared to 1990 levels, makes clear economic sense for the UK, with net increases in GDP, levels of employment and average household income.
Welcoming the publication of the Cambridge Econometrics report commissioned by WWF, RenewableUK’s Director of Policy, Dr Gordon Edge , said: “The economic benefits of investing in wind, wave and tidal energy are indisputable – more than 34,000 people already work in these sectors in the UK, in direct and indirect full-time jobs – and our studies show that this could rise to just over 100,000 by 2023 with the right level of Government support.
“As this new report notes, one of the key factors which will determine whether UK plc reaps these rewards to the full is the pressing need for MPs to think long-term and introduce policies which chart a course up to 2030 and beyond to attract vital investment. This will create higher levels of employment and better wages in our new low-carbon economy outweighing the cost of investing in the transition from fossil fuels to renewables, as this report demonstrates succinctly.
“It will also give us control over the cost of energy by making bills less volatile, giving us energy security, which is a precious commodity, especially at a time of global instability.”
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