Delayed and disorganised energy transitions increase the economic risks of climate change, new research from the University of Surrey reveals.
The paper, published in Ecological Economics, outlines that earlier transitions are more beneficial than disorderly, rapid shifts, which, they found, compromise economic and financial stability.
The UK is legislatively committed to reaching net-zero – where the total greenhouse gas emissions are equal to emissions removed from the atmosphere – by 2050.
This study highlights the importance of a steady shift to avoid economic stagnation.
Dr Andrew Jackson, lead author of the study, said: “Avoiding these transition risks… requires that governments take concerted action now, and do not delay action on the transition any further.”
“By prioritising an orderly transition that is well signposted, governments can mitigate the risks.
“Only by taking a holistic view of all these costs can we pave the way for a sustainable future without jeopardising economic and financial stability.”
Spokesperson Deborah Paterson for local environmental charity, ZERO Carbon Guildford, said: “Climate change is not just an environmental issue; it’s a deeply social and economic one.
“We’ve seen firsthand that many properties in Surrey are ill-equipped to handle extreme heat – putting older people and vulnerable residents at serious risk of overheating and heat-related illness.”
This puts further strain on the NHS and local healthcare services, Paterson said, adding that more frequent extreme weather events will cause public service costs to rise.
“These impacts fall hardest on low-income households, worsening inequality and food insecurity in our community,” she said.
“Acting now is not just environmentally responsible – it’s essential to protect our community and economy from escalating costs.”
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