Net Zero Costs Less Than One Fossil Fuel Shock, UK’s CCC Says

The cost of meeting net zero is less than a single fossil fuel price shock, the UK’s official climate adviser said.

About £4 billion ($5.4 billion) of additional spending per year to 2050 is required to stay on track for net zero, according to a report published Wednesday by the Climate Change Committee. That compares with the overall cost of a gas price spike similar to 2022 when wholesale prices surged after Russia’s invasion of Ukraine.