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Energy Profits Levy should prompt policy reform

A new Smith School analysis argues that the UK Government Energy (Oil and Gas) Profits Levy could have been better aligned with the UK’s net zero commitment, while still taxing supernormal profits and supporting the economy, jobs, and energy security. 

IN THE NEWS

Heatwaves worsen mental health conditions

Heatwaves have a huge impact on our physical and mental health, writes Dr Laurence Wainwright in The Conversation. "Doctors usually dread them, as emergency rooms quickly fill up with patients suffering from dehydration, delirium and fainting. Recent studies suggest at least a 10% rise in hospital emergency room visits on days when temperatures reach or exceed the top 5% of the normal temperature range for a given location."

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IN THE NEWS

Who pays for climate change? The Peruvian suing a German utility

Dr Thom Wetzer comments on a lawsuit brought by a Peruvian farmer, Saúl Luciano Lliuya, against RWE, Germany’s largest utility company. He said part of the reason for the uptick in climate litigation is the climate “governance gap The Paris Agreement lacks an enforcement mechanism to ensure that countries do what they’ve signed up for . . . As long as these governance gaps persist, we will see more and more litigation to try and plug those gaps.” There is also no net zero legislation governing what companies can or must do in most parts of the world, he adds.

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The Great Carbon Arbitrage

Our analysis shows that phasing out coal is not just a matter of urgent necessity to limit global warming to 1.5°C; it is also a source of considerable economic gain, in terms of net benefits, defined as gross benefits minus gross costs.