THE WEST Midlands Mayor has warned that failing to act on climate change could cost the region more than £600million a year within this decade – rising to nearly £3billion annually by the 2050s.
This comes as Richard Parker unveiled a new five-year plan to protect jobs, infrastructure and economic growth.
Analysis commissioned by the West Midlands Combined Authority (WMCA) shows that climate impacts could reduce regional economic output by over £600m every year by 2030, and up to £2.9bn per year by mid-century if risks are not addressed.
Launching the West Midlands Climate Change Five Year Plan, the Mayor said the choice facing the region is clear: act now to strengthen infrastructure and unlock clean growth or pay a far higher economic price later.
Mr Parker said: “Climate change is already costing our economy. Flooded roads, disrupted rail lines, supply chain shocks and rising energy bills all hit businesses and working families.
“Doing nothing is not cheaper. It’s far more expensive.
“This plan is about protecting our economy, backing our manufacturers and making sure the West Midlands stays competitive in a changing world.”
The plan focuses on removing barriers to investment and growth, including tackling grid capacity constraints that delay renewable energy and industrial electrification, establishing a Regional Heat Decarbonisation Unit to unlock shared heat infrastructure and creating a blended regional investment facility to attract long-term private capital.
The Mayor said infrastructure bottlenecks – particularly around electricity grid capacity – are already slowing business investment in new facilities and clean manufacturing processes.
The plan also sets out proposals to work with government and national agencies to secure devolved funding and clearer regional carbon accounting frameworks, giving the West Midlands greater control over delivery as well as further resources and powers for the deployment of adaption measures to help address climate change.
Energy Secretary Ed Miliband, added: “This is a hugely important deal for the West Midlands – and like so many local authorities across the country, the region is simply getting on with climate action because it’s the right thing to do for bills, jobs, energy security and future generations.
“This deal will unlock investment in clean homegrown energy, cut grid delays and help us take back control of energy, delivering a more secure and brighter future for local communities across the region.”
The Five Year Plan runs from 2026 to 2031 and forms part of the Mayor’s wider Growth Plan for the region.
