In the energetic pursuit of net zero, billions of pounds could be squandered needlessly. That’s the lesson from countries as diverse as Italy, the US and UK, where the rush to subsidise green projects suggests vast sums are at risk. Worse, they could be lining the pockets of multinational businesses and City financiers.
In the UK, 14 years of austerity has left the public sector struggling to make coherent, strategic decisions. When a decision is finally made, it is a panic measure that quickly unravels. The fallout could be that voters become disenchanted with green tech, especially if the dash for net zero leads to higher taxes and higher borrowing while early adopters unwittingly pay for costly mistakes.
