The Cost of Green Dreams
British business faces a £370 billion bill by 2020 to meet the cost of fighting climate change, according to estimates to be published ahead of December’s Copenhagen climate-change summit.
The amount would mainly cover the cost of building renewable-energy capacity, smart grids and high-speed rail links. About £40 billion would finance upgrades to Britain’s water distribution and treatment networks.
This is only part of the picture, said the report’s author, Andrew Raingold of Aldersgate Group, a coalition of business and environmental groups.
“These are conservative estimates and don’t include the costs attached to deploying low-carbon vehicles and supporting infrastructure such as charging stations. This could add another few billion to businesses’ total liability,” he said. “Businesses will end up footing the vast majority of the costs of combating climate change because the Treasury doesn’t have the money.”
Governments and many experts argue that the economic impact of a warmer climate and the costs industry will bear if the carbon price increases will be much greater if businesses do nothing. “There is actually a big opportunity to make money if we don’t drag our feet,” said Sir Brian Hoskins of the Committee on Climate Change, the government ’s green watchdog.
Has anyone got his number as I've got a bridge I think he might like to buy....