Leaders of 18 organisations with supporters totalling millions have called on the Chancellor, Sajid Javid to more than double UK public investment in tackling climate change and arresting nature’s decline.
The group of "civil society organisations", including Greenpeace, the Catholic Agency for Overseas Aid and the Royal Society for the Protection of Birds, have written to the Chancellor saying they estimate that public spending on climate and the environment “needs to be doubled, equating to at least £42bn per year over the next three years, of which £25bn per year is new funding.” – some 5% of total government spending.
They point to a report published by eight of the group which suggests that the £42m a year estimate is “an initial indicator of the minimum scale of need” and should be seen as “an absolute minimum expenditure.”
The report, Government investment for a greener and fairer economy, said Government investment on this scale must begin immediately to drive forward the transformation required. And it suggested the government could draw on private funding, quoting Prime Minister, Boris Johnson’s (pictured) pledge from his leadership campaign: “if it’s borrowing [that is needed] to finance great infrastructure projects ... to do things for the long-term benefit of the country, then we should do them”.