Net Zero Will Be More Expensive Than People Think, Lords Told

The move to net zero will be much more expensive than people have been led to believe and the exact cost of transitioning is not fully known, senior economists have told the Lords Economic Affairs Committee. Olivier Blanchard, senior fellow at the Peterson Institute for International Economics, told peers at a committee session on debt sustainability on Tuesday that “there is a substantial fiscal cost to achieving anything close to net zero.” Mr. Blanchard told the Lords committee: “We don’t know exactly what it is. We know what we have to do today. But we don’t know how long and how much it will be in the future.”...