Carbon Cost of Heathrow Doubles
Research by the New Economics Foundation published yesterday reveals that the carbon cost of a third runway has double from £49bn to over £100bn.
In September, the government updated its ‘carbon values’ to reflect its latest net-zero emissions target. As a result, short-term carbon values have more than tripled, meaning that the clean-up costs associated with infrastructure projects are much higher than previously assumed.
Taking just departing flights into account, the analysis finds that the clean-up cost of emissions from the Heathrow airport expansion cost has doubled to £49.2bn, of which only 15% will be paid for by the aviation industry. The remaining bulk of the clean-up cost will fall to wider society and the taxpayer.
The research can be viewed in full here: https://neweconomics.org/2022/01/the-62bn-carbon-giveaway
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