This is the second of ICE’s ‘Next Steps Programme’, a policy insight and public discussion series that allows ICE to be at the leading edge of policy debates on UK and international themes.
Led by the ICE Policy and Public Affairs team, this timely public debate session brings together panellists from politics, finance and infrastructure as we look ahead at the next steps for financing net zero infrastructure.
Upon registering, attendees will receive a briefing paper, produced prior to the event, which highlights key talking points and raises the questions which still remain. The briefing document will also include relevant blog posts.
Financing a fair transition to net zero is an enormous challenge. More than 140 countries now have net zero greenhouse gas emission targets, covering close to 90% of global emissions. They are joined by 115 state and regional governments, 235 cities and more than one-third of the world’s biggest publicly traded companies.
Delivering net zero is an essential part of the UK’s response to climate change. To hit net zero greenhouse emissions by 2050, the Climate Change Committee believes that the UK needs to be investing an extra £50 billion a year. However, the framework to deliver this investment is unclear. In the current cost of living crisis, financing a fair transition that will relieve financial pressures on households becomes an urgent priority.
So, what needs to happen next?
The Institution of Civil Engineers (ICE) has organised an online panel debate to discuss funding and financing net zero. This debate will take an honest look at options for what policymakers need to do next and address key questions including:
- What are the options for funding net zero (taxpayer, billpayer, borrowing etc.) and which should be prioritised?
- Are the public willing to pay for net zero? And how much?
- How can we ensure that the burden of paying for the transition in the long term does not affect those suffering most from the cost-of-living crisis in the short term?
- If governments took or continue to take limited action to facilitate net zero finance, what else can be done to move things forward?