Wednesday, 18 May 2011

4th Carbon Budget

The fourth carbon budget, which covers the period spanning 2023 to 2027, commits the UK to cut its emissions by 50% on 1990 levels, on course for emissions cuts of 80% by 2050, has been announced.  Huhne accepts the recommendations of the independent Committee on Climate Change (CCC)

The Government will by the end of the year announce a "working up a package of measures" to help energy-intensive industries "adjust" to the transformation while remaining competitive.  It intends to "keep our carbon trading options open to maintain maximum flexibility, and minimise costs in the medium long term".

Chris Huhne said, "Today’s announcement will give investors the certainty they need to invest in clean energy. It puts Britain at the leading edge of a new global industrial transformation."

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