Reaching Net Zero Could Cost Scotland £1.1 Billion a Year Until 2050: Report

The Scottish Government will have to spend an average of £1.1 billion a year by 2050 to achieve net zero, around 18 percent of its capital budget, a report has said. In a report published on Thursday, the Scottish Fiscal Commission (SFC) analysed the financial implications of Scotland meeting its emissions target, estimating that “an average of £1,136 million a year (in 2024 prices) will be required in additional capital investment from the Scottish Government to reach net zero over the period 2020 to 2050.” “This is equivalent to 18 per cent of the Scottish Government’s 2024-25 capital budget of £6,193 million,” the report said, noting that these figures “do not include the costs associated with adapting to climate change or damage from climate change.”...