Green Alliance says £14bn needed each year to meet climate challenge

THE GREEN Alliance think-tank says Britain will need an extra £14bn each year to meet its climate commitments.

It says £9bn that has been spent in recent years has gone on projects that increase CO2, such as roads. Funds would be better spent on clean transport such as creating cycle lanes, reforestation, and low-carbon buildings, the alliance says — and there isn’t enough cash in the pot.

The report comes as UK firms are pledging to create a new approach and “put the environment first”.

Its calculations are based on the government’s assessment of major projects in the pipeline released earlier this month.

The government said it is “determined to meet carbon targets”, but the Green Alliance report casts doubt on that claim. It points out that there are plans to spend a further £28bn on roads.

The report’s authors say available money should be used for the Britain’s climate commitments, not on projects that increase CO2 emissions.