Overview

The Decarbonisation and Economic Strategy Bill aims to achieve net-zero carbon emissions in the UK by 2030 while simultaneously reducing inequality. It mandates the creation of a Green New Deal Commission to develop and oversee a ten-year strategy for this transition, involving significant changes to economic governance and policy.

Description

This bill places a legal duty on the Secretary of State to meet both decarbonisation and economic equality objectives by 2030 and annually thereafter. Net-zero carbon emissions are defined, excluding certain international credits and biomass from outside the UK. Economic equality targets include reducing income, wealth, health, and opportunity inequalities.

The Green New Deal Commission

A Green New Deal Commission will be established, with a board of Commissioners appointed by the Secretary of State, subject to parliamentary approval. The Commission will create a ten-year Green New Deal strategy, report annually to Parliament on progress, and advise the government on policy implementation.

Policy Requirements

The Green New Deal strategy must include policies to improve energy efficiency, build affordable zero-carbon housing, promote sustainable transport, support agroecological farming, improve habitat and biodiversity, and create new green jobs. It also mandates an end to fossil fuel expansion and phased-out use of fossil fuels, alongside significant taxation reforms and changes to economic governance to reduce inequality.

International Collaboration

The bill promotes international collaboration to achieve global decarbonisation and reduce inequality, advocating for increased climate finance and the transfer of finance from fossil fuel projects to clean energy projects. It also includes promoting decarbonization within international and regional forums.

Government Spending

The bill will necessitate significant government spending, though exact figures are not specified. Funding will be required for the Green New Deal Commission, investment in decarbonisation projects, social housing, and potentially new economic initiatives. It also proposes the creation of a National Investment Bank and Regional Investment Banks. The bill specifies that any expenditure incurred under this Act will be paid out of money provided by Parliament.

Groups Affected

The bill will affect a wide range of groups:

• Businesses: Significant changes to regulations, taxation, and procurement policies will impact businesses, particularly those in high-carbon sectors.
• Individuals: Changes to energy consumption, transport, and consumption patterns will affect individuals' lifestyles and costs.
• Local Governments: Increased responsibilities and potentially altered funding mechanisms will influence their operations.
• Environmental groups: The bill's focus on decarbonisation and environmental protection will be beneficial to environmental groups.
• Trade unions: The emphasis on worker rights and job creation in green sectors should positively impact trade unions.
• Devolved administrations: The bill mandates consultation with devolved administrations impacting their involvement in the Green New Deal’s implementation.
• Asylum seekers and Refugees: The bill aims to improve their access to employment.

Powered by nyModel