Written question WQ98695
- Asked by
- Llŷr PowellReform
- To be answered by
- Cabinet Minister for Finance
- Tabled
- Due
- Answered
- Time to answer
- 14 days
Question
What estimate has the Welsh Government made of the total cost to taxpayers of achieving net zero targets in Wales?
Answer
Answered by Cabinet Minister for Finance (Elin Jones)
The most recent cost-benefit analysis (carried out in 2025, under the previous Welsh Government) of Wales achieving net zero in 2050 estimates a net undiscounted financial cost of £10 billion which would be met by the Welsh and UK governments, businesses and citizens. However overall, the discounted net benefit to Wales would be £56.5 billion, due to savings from avoiding climate damages, cheaper operational costs, and other benefits, such as improved air quality. This clearly shows the overwhelming benefit of taking action to tackle climate change and achieve net zero.
The exact cost of meeting net zero targets will depend on many factors, including the measures chosen by the Welsh and UK governments, the development and cost of various technologies, and the actions of businesses and citizens.