United Kingdom (UK)

Country indicators

GDP per capita - gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. (Source: World Bank)

GDP per capita
(USD):

45,379.0

Fossil fuel subsidies (USD, billions) - All consumer and producer pre-tax subsidies. Pre-tax consumer subsidies exist when energy consumers pay prices that are below the costs incurred to supply them with this energy. (Source: IMF)

Fossil fuel subsidies (USD, billions):

0.01

Fossil Fuel Subsidies as % of GDP - All consumer and producer pre-tax subsidies as percent of a country’s GDP. (Source: IMF)

Fossil fuel subsidies
(% of GDP):

0.0

Fossil Fuel Subsidies with externalities as % of GDP - All consumer and producer post-tax subsidies. Post-tax consumer subsidies exist if consumer prices for energy are below supply costs plus the efficient levels of taxation. (Source: IMF)

Fossil fuel subsidies with externalities (% of GDP):

1.50

Revenue from environmentally related taxes as % of GDP - All revenue from environmentally related taxes - defined as any compulsory, unrequited payment to general government levied on tax-bases deemed to be of particular environmental relevance – as percent of a country’s GDP. (Source: OECD)

Revenue from environmentally related taxes (% of GDP):

2.38

Carbon pricing gap - Measure of how much countries fall short of pricing carbon emissions in line with a EUR 60 benchmark value (midpoint estimate of the carbon costs in 2020 and a low-end estimate for 2030). The difference is presented as percentage: If the Effective Carbon Rate (ECR) on all emissions is at least as high as the benchmark, the gap is zero, and if the ECR is zero throughout, the gap is 100%. (Source: OECD)

Carbon Pricing Gap
(%):

News

NDCs from UK, Switzerland, Costa Rica Reiterate Net Zero Goals (IISD)

2021-01-21

In recent news about NDCs, the UK, Switzerland, and Costa Rica have highlighted their goals of net zero emissions by 2050, in line with global

U.K. to Halt Subsidies for Fossil Fuel Projects Abroad

2021-01-21

Prime Minister Boris Johnson has been positioning himself as a leader in fighting global warming, an area where he can make common cause with President-elect

The UK urged to commit to a carbon tax

2020-12-11

A UK carbon tax is the “best-case scenario” for a carbon pricing regime in the country for next year, given the lack of time remaining

Reports

U.K. Spending 32 Times More On Fossil Fuels Than Renewables: Wärtsilä Report

2020-11-03

The U.K. government is squandering an opportunity to move towards a zero carbon future by pumping billions of stimulus cash into fossil fuels and all

Carbon pricing design: Effectiveness, efficiency and feasibility (OECD)

2020-06-29

Carbon pricing helps countries steer their economies towards and along a carbon-neutral growth path. This paper considers how the design of carbon pricing instruments affects

New Plastics Economy Global Commitment progress report 2019 (Ellen MacArthur Foundation and UNEP, 2019)

2019-11-22

The Ellen MacArthur Foundation and the UN Environment Programme published the first annual New Plastics Economy Global Commitment progress report. Launched in 2018, the Global

Policy Briefs

Financing low-carbon growth and innovation in the UK Industrial Strategy (Grantham Research Institute)

2017-04-28

This policy brief by the Grantham Research Institute outlines how the public sector can crowd in private finance to support low-carbon growth and innovation in