The impact of climate change on cost of living in the UK
A landmark report published today by the climate science charity Scientists Warning Europe provides a comprehensive economic analysis of the impact of climate change on cost-of-living in the United Kingdom.
In the King's Speech on Tuesday 7 November, the Government confirmed action would be taken to “ease the cost of living for families” while at the same time supporting “the future licensing of new oil and gas fields”. The new report, titled The Impact of Climate Change on UK Cost of Living and authored by Associate Professor at Leiden University Dr Paul Behrens, suggests these two aims are entirely incompatible.
Prof Chris Rhodes, climate scientist, energy expert, and board member of Scientists Warning Europe, explains, “We have known for many years that the burning of fossil fuels produces greenhouse gases which lead to heating of our planet and a worsening of the climate crisis. What Dr Behrens reveals is that, as climate change worsens, it is aggravating the Cost-of-Living crises and will continue to add to its intensification in the coming years. Therefore, the expansion of oil and gas extraction contradicts any intention to ease the cost of living for the British public.”
However, Dr Behrens’ report doesn’t end there. It also highlights that rapid climate mitigation and adaptation measures could yield substantial economic returns for the UK.
Drawing from a robust review of economic models and climate impact assessments, the report shows that embracing mitigation strategies offers a unique avenue to curb the escalating costs of living. From food and energy to health and infrastructure, the study outlines how these sectors will be severely impacted by climate change if no action is taken. Conversely, it also emphasizes that prompt, strategic climate mitigation and adaptation could not only alleviate the economic toll but also open up potential opportunities for Britain.
Scientists Warning Europe’s Communication Lead, Tash Morgan-Etty, calls for the British Government to resume their position as a global leader on net-zero so that the country can take advantage of the potential economic uplift. "The evidence is clear: fast-tracking climate mitigation not only reduces the risks and impact of climate change but also gives us a practical pathway for significant economic returns. It’s a win-win for everyone in the UK. If we want a safe and thriving future, there’s no reason not to implement the necessary strategies immediately.”
The report’s author, Dr Paul Behrens, adds, “The UK can access these opportunities by adopting previous recommendations by the UK Climate Change Committee, including stopping fossil fuel expansion. There is also the urgency for further modelling to assess additional economic benefits of expedited transition by 2040 and even 2030. We knew the risks. We now know the possibilities. We just need to move faster to take advantage of them.”
The report’s findings stand as a clarion call for proactive political and business leadership, urging a paradigm shift in policy and investment towards swift and immediate national action to boost Britain’s economy while mitigating current and future climate change risks.
For further information, contact: Scientists Warning Europe Managing Director, Ed Gemmell: +44 (0) 7440 763 530 / ed@scientistswarningeurope.org.uk
[Released: 10th November 2023]
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Scientists Warning Europe is a registered charity that presents and promotes science-endorsed solutions for a just transition to a sustainable and equitable future. SWE specifically promotes the 4 great Scientists Warnings issued in 1995, 2017, 2019 and 2021 with the 2017 and 2019 papers the most endorsed scientific papers in the World. For further information, please visit www.scientistswarningeurope.org.uk or contact: Managing Director, Ed Gemmell: +44 (0) 7440 763 530 / ed@scientistswarningeurope.org.uk
Paul Behrens (UK) is an author and Associate Professor at Leiden University. His popular science book, The Best of Times, The Worst of Times: Futures from the Frontiers of Climate Science (Indigo Press, 2020), describes humanity’s current trajectory and possible futures in paired chapters of pessimism and hope, on topics including the economy, energy, land and food. He outlines just how much is to be done to achieve a hopeful future but how this scenario would involve actively building a healthier, happier and more fulfilling world. His research and writing focus on the areas causing most of the problems: energy, food and economic systems. His research and writing has appeared in scientific journals and media outlets such as the BBC, Thomson Reuters, Politico, Nature Sustainability, Nature Energy, the Proceedings of the National Academy of Sciences, Nature Food and Nature Communications. He is International Champion of the Frontiers Planet Prize.