The British government may have to consider raising taxes to pay for the cost of its pledge to reach “net zero” greenhouse gas emissions by 2050, according to a Treasury report published on Tuesday. In June 2019, the UK government passed legislation committing itself to achieve net-zero by 2050, in order to deliver on the commitments under the Paris Agreement in 2016. The UK’s National Audit Office warned last December that the net-zero commitment is a “colossal challenge” that could cost hundreds of billions of pounds. In a review (pdf) into the future of the UK’s net-zero plans, the Treasury said hitting the target would put pressure on public spending, and suggested that tax increases may be unavoidable. “There will be demands on public spending, but the biggest impact comes from the erosion of tax revenues from fossil fuel-related activity,” the report said. The government collected £37 billion ($51 billion) …