'The numbers are scary': The unfathomable cost of going net zero in Greater Manchester
Making Greater Manchester's energy supply carbon neutral by 2038 will cost £64 BILLION, according to a new report. Plans to decarbonise energy infrastructure in the city-region have now been given the green light by local authority leaders.
More detailed proposals setting out specific schemes which will require public funding are expected to come forward, but it is hoped that the private sector will also contribute a significant sum. Of the £64bn required, around 70 pc is already accounted for, but this existing investment may need to be redirected.However, a gap of £19bn remains for Greater Manchester to meet its goals. Local politicians hope the £12.
"Some £64bn is going to be required. I want to assure the combined authority that of that £64bn, some 70-odd pc of it is going to be through business-as-usual channels. Last year, the GMCA launched a Local Area Energy Plan. A UK-first, the plan suggests specific steps, interventions and opportunities at a local level to decarbonise Greater Manchester's energy supply and meet its net zero goals.
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