Energy and Climate Change Secretary Chris Huhne has put a limit on the total amount of greenhouse gases emitted by the UK between 2023 to 2027 to be 50% of the 1990 levels.
Today’s proposals in line with advice from the independent Committee on Climate Change. It sets a fourth carbon budget of 1950M tonnes Carbon dioxide for the period that will span from 2023 to 2027, putting the UK on course to cut emissions by at least 80% by 2050.
The Department for Energy and Climate Change (Decc) believes the carbon budget will place the British economy at the “leading edge of a new global industrial transformation”, and ensure low carbon energy security and decarbonisation is achieved at least cost to the consumer.
In line with the Coalition Agreement, Government will continue to argue for an EU move to a 30% target for 2020, and ambitious action in the 2020s.
However, proposals will be reviewed in 2014, to ensure they are in line with the European Union (EU) emissions trading scheme (ETS).
The Government has also announced there will be a package of measures to reduce the impact of government policy on the cost of electricity for energy intensive industries and to help them adjust to the low-carbon industrial transformation.