Policy Hub
On 5 November 2007, the Institute for Public Policy Research (IPPR) published two reports on cutting carbon dioxide emissions and climate change:
80% challenge ... says that the UK can cut its CO2 emissions by 80 per cent by 2050. This would mean a slow down in economic growth of two to three per cent of GDP. But the economy would still triple in size and reach the same level as it would on a business-as-usual scenario by spring 2052, less than two years later. In contrast, the Stern Review concluded that taking no action on the impacts of climate change could reduce global GDP by 5-20 per cent. 80% challenge ... says that the Government’s current target of 60 per cent cuts in CO2 emissions by 2050 is inadequate because it is based on out-dated science and excludes the UK’s share of emissions from international aviation.
2050 vision ... presents models which suggest that achieving emissions reductions, of at least 80 per cent by 2050 from 1990 levels, through domestic action alone, is technologically feasible, based on a combination of increased energy efficiency and investment in technologies known about today. This is the case even if new nuclear power stations are ruled out.
However, the scenarios are highly challenging, and would require radical, almost immediate changes in policy, and investment in the electricity sector in particular. Underlying the policy challenges are the economic and political challenges. The overall economic implications of decarbonisation would not be enormous in terms of impacts on long-term growth, since energy makes up only a relatively small part of the economy. Nevertheless, the economic costs would be large enough to have political significance. In the short term, there are likely to be winners and losers, and thought needs to be given to supporting the latter groups. The kind of policy changes involved would require major support, and a prerequisite for radical change would be the building of a solid mandate from the public.
In addition to being necessary, technologically feasible and affordable, a more ambitious emissions reduction target, along with credible policies, would also be desirable in terms of demonstrating UK leadership on climate change, and so helping to make a global agreement more likely. Energy security - making sure the UK does not rely too much on other countries for its energy supplies - would also be improved.