On Wednesday the Environmental Audit Committee explores how the net zero transition should be financed as it continues its inquiry into the Treasury’s role in climate and nature policy.
\r\nMPs will question witnesses, including the Office for Budget Responsibility (OBR) and former COP26 President Lord Alok Sharma, on the economic and financial measures the government could introduce to deliver its climate, nature and environmental objectives.
\r\nThe OBR have predicted that GDP could be 8% lower by the early 2070s due to climate change, with climate damage increasing public sector debt by 56% of GDP.
","secondaryDescription":"The Committee is likely to use this session to consider how climate change could impact the resilience and growth of the UK’s businesses and economy.
\r\nMPs are also likely to consider the Treasury’s role in transition finance and the potential impact of the UK’s net zero transition on the economy. MPs may explore what more could be done to mobilise private investment in net zero and improve relations between the government and the financial sector.
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