The former BP boss, Lord Browne said yesterday that the energy transition will cost £2.7 trillion every year for the next decade to limit climate change. This huge number this is about 2% of world GDP, where current energy spending is around 10% of GDP.
It’s about £350 per person. In a world where over 700 million people live on less than the World Bank poverty level of $2.19 per day this needs to be paid for by the richer countries. In the UK the committee on climate change put the bill at an average of £50bn per year, so more like £1000 per person in richer countries.
People are not ready or prepared to pay this. Most people are not bought into making the sacrifices or changes that the energy transition requires. They see this as a job for the government, and perhaps wrongly believe that if the government pays then they won’t have to.
Governments need to make a much stronger case for the energy transition. People need to understand the urgency of action, why delaying action will cost more in the longer term, and how some simple changes can make a big difference.
Some suggestions for governments to raise public awareness:
Public education campaigns – along the lines of great health campaigns – ‘stay at home and use less energy’ – put people in a position of responsibility.
Warnings on petrol pumps with CO2 production as a third number below the litres and price, like on cigarette packets.
An immediate ban on new gas cookers – a small amount of energy but a powerful message.
Free home insulation installation – to include the rented and housing association sector.
Start in schools – put energy and the economics of energy into the national curriculum and train the teachers to deliver this.
Stronger regulation of energy advertising and marketing to prevent greenwashing.
Make the cost of inaction clear, ‘better potluck today with Churchill than humble pie under Hitler’ as the wartime poster said.
What other ideas do you have?
