Government commits to legally binding emissions reductions1 July 2016
Yesterday the Government confirmed that they have agreed with the Committee on Climate Change (CCC) and announced that the fifth carbon budget (covering 2028 to 2032) should be set at 1,725 MtCO2e. The budget commits the UK to cutting emissions by 57% by 2032 compared to 1990 levels which will help ensure the UK can meet the Climate Change Act target of an 80% reduction in emissions by 2050.
In response Paul Ellis, Chief Executive of Ecology Building Society said,
“It’s great news that the Government has retained its commitment to climate change targets, cutting emissions by 57% by 2032.”
“However this carbon budget is just the first step and the Committee on Climate Change’s latest progress report shows that more action is needed to reduce carbon emissions, particularly from the building sector. We’ve got more than thirty five years’ experience of financing building with a positive environmental impact and this carbon budget provides an opportunity for new policies to support low carbon technologies and energy efficiency which will make our homes more sustainable.”