Academy Of Ideas

Net Zero: can the economy and democracy survive?

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Synopsis

ORIGINAL INTRODUCTION Climate change has become the great overarching mission of our times for politicians and business leaders. With the UN secretary general declaring that we are now in an era of ‘global boiling’, every leading politician talks about reducing greenhouse-gas emissions to ‘net zero’ – with the few emissions the economy does produce balanced by some method to soak them up, from planting trees to carbon capture and storage. As a result, a timetable has been created to eliminate emissions, step by step, between now and 2050. Proponents of Net Zero argue that the process could be a creative one, leading to the development of new technologies and millions of well-paid ‘green’ jobs. Moreover, they point to opinion polls which suggest that the idea is popular with the public. But the price to be paid for Net Zero is becoming ever clearer and is no longer a distant prospect. As soon as 2026, new oil-powered boilers will be banned and all new housing must have heat pumps installed. Gas boilers, petrol