The Impact Assessment compared the costs and benefits of meeting net zero in 2050 for different options for the level of the Sixth Carbon Budget, including the level recommended by the Climate Change Committee which has since been voted into law. Costs and benefits were aggregated over 2020-2050 to reflect uncertainty around the precise annual profile. Given this uncertainty, the table below sets out the undiscounted costs and benefits over 5 yearly increments.<\/p>
<\/p>
Table 1. Costs and benefits breakdown by sixth carbon budget options, Core pathway only<\/p>
<\/p><\/td> | Costs and benefits relative to Option 1<\/strong> (Do Nothing baseline of 2100MtCO2e)<\/strong> 2021-2025<\/strong><\/p><\/td> 2026-2030<\/strong><\/p><\/td> 2031-2035<\/strong><\/p><\/td> 2036-2040<\/strong><\/p><\/td> 2041-2045<\/strong><\/p><\/td> 2046-2050<\/strong><\/p><\/td><\/tr> Costs <\/strong> (incl. capital & finance)<\/strong><\/p><\/td> Option 2, Looser, 1105Mt<\/p><\/td> 34<\/p><\/td> 88<\/p><\/td> 160<\/p><\/td> 217<\/p><\/td> 277<\/p><\/td> 381<\/p><\/td><\/tr> Option 3, CCC level, 965Mt<\/p><\/td> 37<\/p><\/td> 91<\/p><\/td> 186<\/p><\/td> 256<\/p><\/td> 309<\/p><\/td> 395<\/p><\/td><\/tr> Option 4, Tighter, 865Mt<\/p><\/td> 38<\/p><\/td> 94<\/p><\/td> 206<\/p><\/td> 301<\/p><\/td> 328<\/p><\/td> 389<\/p><\/td><\/tr> Benefits<\/strong> (incl. fuel & emissions savings)<\/strong><\/p><\/td> Option 2, Looser, 1105Mt<\/p><\/td> 2<\/p><\/td> 68<\/p><\/td> 182<\/p><\/td> 357<\/p><\/td> 526<\/p><\/td> 739<\/p><\/td><\/tr> Option 3, CCC level, 965Mt<\/p><\/td> 4<\/p><\/td> 71<\/p><\/td> 168<\/p><\/td> 401<\/p><\/td> 554<\/p><\/td> 757<\/p><\/td><\/tr> Option 4, Tighter, 865Mt<\/p><\/td> 12<\/p><\/td> 98<\/p><\/td> 174<\/p><\/td> 387<\/p><\/td> 540<\/p><\/td> 762<\/p><\/td><\/tr><\/tbody><\/table>"}
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, "date" : {"_value" : "2024-04-30", "_datatype" : "dateTime"}
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], "questionText" : "To ask the Secretary of State for Energy Security and Net Zero, with reference to Table 16 of the Impact Assessment for the Carbon Budget Order 2021, published on 16 April 2021, if she will publish an annual undiscounted table of the costs and benefits of each option.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
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, {"_about" : "http://data.parliament.uk/resources/1539973", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1539973/answer", "answerText" : {"_value" : " Impact Assessments use a sound evidence base and are assessed for their quality by the independent Regulatory Policy Committee. Impact assessments are subsequently published online for transparency. HM Treasury publishes the Green Book guidance on how to appraise the impacts of government policy. As part of this, BEIS publishes supplementary guidance to the Green Book, on how to estimate the impacts on energy and greenhouse gas emissions based on the latest science and in line with internationally recognised standards: https://www.gov.uk/government/publications/valuation-of-energy-use-and-greenhouse-gas-emissions-for-appraisal<\/a>.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1482", "label" : {"_value" : "Biography information for Graham Stuart"}
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, "date" : {"_value" : "2022-11-07", "_datatype" : "dateTime"}
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, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
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], "questionText" : "To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he is taking to ensure that future impact assessments considering the impact on net zero targets of Government policies are as (a) transparent, (b) accurate and (c) reliable as possible.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
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