Ambitious “Fourth Carbon Budget” to take Britain to the top

Posted on May 18, 2011 by

The UK government on Tuesday approved legally binding greenhouse gas emission cuts with the release of its Fourth Carbon Budget. The target aims at a 50 percent reduction of GHG emission by 2027 by limiting the total emission between the years 2023 to 2027. This proposal reaffirm Britain’s commitment to be the “greenest government ever”.

The proposal has allocated a carbon budget of 1950 mega ton of CO2e that will span across the designated period. This will eventually put UK on course to cut emission by at least 80 per cent by 2050. The package also includes measures to minimize costs of low-carbon transition to industries exposed to international competition.

The UK will continue to push EU towards the 20 per cent reduction which is to be met by 2020 while meeting its own ambitious target. Meanwhile, the UK government also announced measures to minimise the impact of government policies on the cost of electricity for energy intensive industries and to help them adjust to the low-carbon industrial transformation.

On this note, the announcement opens up doors for clean energy investors thus furthering Britain’s aspiration to be at the forefront of the new-global industrial transformation. The key to success will ultimately lie on groundbreaking innovations that will help Britain decarbonise its energy supplies by 2027 in the most economical way.

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