New greenhouse figures show stalling progress – polluters must pay
Annual greenhouse gas emissions data is released today. Research shows that £22bn additional funds needed to avert climate chaos.
Provisional government figures released today show a small decrease overall in greenhouse gas emissions in 2018. Much greater efforts are required for the UK to meet its legally binding emissions reduction targets and to honour its commitments under the Paris Agreement.
To coincide with the greenhouse gas figures, Friends of the Earth published new research this week laying out the case to make polluters pay. The findings show that the UK oil and gas industry are responsible for £44bn worth of damage each year.
Mike Childs, Head of Research at Friends of the Earth, said:
“We can’t ignore the fact that the energy transition is slowing. All the back-slapping from government on very modest improvements shows that they have not yet grasped the scale and speed of change needed. If we are to avoid climate chaos, we have to do much more: business as usual means more extreme weather, species extinctions and a grim future for young people.”
Friends of the Earth outlines the case for an additional £22bn of funding to make housing energy efficient and fit eco-heating, improve public transport, support further development of renewable energy, and increase tree planting – and that a carbon tax on polluters should contribute to these costs.
Mike Childs concluded:
“A climate crisis is unfolding in front of our eyes with floods, wildfires and droughts now a regular feature of the news. We need much faster action if we are to avoid climate chaos.
“Wealthier countries like the UK need to act much more rapidly. This will cost money, perhaps up to £22 billion per year. But it will also bring enormous benefits for public health and the economy. The fossil fuel industry needs to pay up for the decades of damage done even as they continue to bank massive profit from the climate-damaging fossil fuels they extract and exploit. Enough’s enough, it’s time to pay.”