With weeks to go before the Cop26 climate summit, documents show PM being warned about the risks of damage to the UK from green investment
Confidential documents leaked to the Observer reveal an extraordinary rift between Boris Johnson and his chancellor, Rishi Sunak, over the potential economic effects of moving towards a zero-carbon economy, with just weeks to go before the crucial Cop26 climate summit.
As Johnson prepares to position the UK at the head of global efforts to combat climate change and curb greenhouse gas emissions as host of the Glasgow Cop26 meeting, the documents show the Treasury is warning of serious economic damage to the UK economy and future tax rises if the UK overspends on, or misdirects, green investment.
Green experts said the “half-baked” and “one-sided” Treasury net-zero review presented only the costs of action on emissions, rather than the benefits, such as green jobs, lower energy bills and avoiding the disastrous impact of global heating. They said the review could be “weaponised” by climate-change deniers around the world before Cop26, undermining Johnson’s attempts at climate leadership on the global stage.
