IDEAS home Printed from https://ideas.repec.org/a/wsi/ccexxx/v14y2023i02ns2010007823500070.html
   My bibliography  Save this article

Exploring Consumer Preferences For Net-Zero Policies: Willingness To Pay Among Uk Citizens For National Greenhouse Gas Reduction Targets Under Different Future Discounting Assumptions

Author

Listed:
  • RICKY N. LAWTON

    (Ipsos MORI UK, 3 Thomas Moore Square, London E1W 1YW, UK)

  • DANIEL FUJIWARA

    (Simetrica Research Consultancy, The Shepherds Building Charecroft Way, Hammersmith, London W14 0EE, UK)

Abstract

Following the UK’s hosting of the United Nations Convention of the Parties Climate Summit in 2021, political targets for reducing greenhouse gas emissions — “Net-Zero† — have gained momentum. We address the gap in how public preferences are accounted for in climate decision-making by applying Contingent-Valuation techniques which ask people to state their Willingness-to-Pay (WTP) for the UK’s 2050 Net-Zero target. Mean WTP is £37.57/household to support Net-Zero (median £11.25), with a present-value of £2.3 billion across UK households. While younger people are more likely to experience the long-term impacts of climate change, older generations are willing to pay more to support it, suggesting that public support for Net-Zero is largely based on “nonuse†benefits, rather than direct “use†benefits to oneself. The COVID-19 epidemic affected WTP bids in a quarter of respondents. Finally, we explore how choice of positive or normative discount rate affects policy conclusions when monetizing consumer preferences.

Suggested Citation

  • Ricky N. Lawton & Daniel Fujiwara, 2023. "Exploring Consumer Preferences For Net-Zero Policies: Willingness To Pay Among Uk Citizens For National Greenhouse Gas Reduction Targets Under Different Future Discounting Assumptions," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 14(02), pages 1-26, May.
  • Handle: RePEc:wsi:ccexxx:v:14:y:2023:i:02:n:s2010007823500070
    DOI: 10.1142/S2010007823500070
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S2010007823500070
    Download Restriction: Access to full text is restricted to subscribers

    File URL: https://libkey.io/10.1142/S2010007823500070?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Schleich, Joachim & Alsheimer, Sven, 2024. "The relationship between willingness to pay and carbon footprint knowledge: Are individuals willing to pay more to offset their carbon footprint if they learn about its size and distance to the 1.5 °C," Ecological Economics, Elsevier, vol. 219(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:ccexxx:v:14:y:2023:i:02:n:s2010007823500070. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/cce/cce.shtml .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.