Several major newspapers have recently published an inaccurate report on the cost of achieving net zero emissions. The report, produced by the Tufton Street group Civitas, contains significant data errors and has been criticized by climate academics and journalists.
Authored by management consultant Ewen Stewart, the report claims that achieving net zero emissions in the UK will cost £4.5 trillion, or £6,000 per household, by 2050. However, the report mistakenly confuses electrical measurement units, leading to a massive overestimation of the cost of building new onshore wind turbines. It suggests a cost of £1.3 million per MWh, when the actual cost is significantly lower, at £50-70 per MWh.
Civitas estimates the total capital expenditure on onshore wind turbines to be £810 billion, but this figure is a miscalculation. The report also contains other errors and omissions, such as claiming that the development of electric vehicles could cost jobs, despite evidence suggesting the opposite.
The report has been amplified by several major newspapers, including the Times, Daily Express, Daily Mail, the Spectator, and influential blog Guido Fawkes. It has also been shared by climate science denial groups. However, the government’s independent advisory body, the Climate Change Committee, has estimated that the cost of achieving net zero will be less than 1 percent of GDP.
Prime Minister Rishi Sunak recently announced delays to the implementation of net zero policies, including a delay in the ban on the sale of petrol and diesel vehicles. Despite these delays, the government recognizes the importance of addressing climate change and acknowledges that the costs of inaction would be much greater.
Civitas has acknowledged the errors in its report but maintains that the overall cost of achieving net zero will be much higher than official estimates. The government, renewable energy associations, and experts have criticized the report as inaccurate and unnecessarily alarmist.
It is worth noting that Civitas is based at 55 Tufton Street in Westminster, an area known for being home to pro-Brexit, free market think tanks critical of regulation and climate action. The group’s funding transparency has also been questioned, and it is part of a network that has called for the removal of renewable energy subsidies.
In conclusion, while there may be ongoing debates about the exact cost of achieving net zero emissions, it is crucial to rely on accurate data and rigorous analysis. The government and experts continue to emphasize the importance of addressing climate change and the potential long-term benefits of transitioning to a net-zero economy.
