UK Government publishes fifth carbon budget
30th June 2016
GEP welcomes the Government’s publication of the Fifth Carbon Budget. Published on 29 June 2016, just a week after the UK voted to leave the European Union, the Fifth Carbon Budget provides reassurance to environmentalists and the energy industry that the UK is committed to tackling Climate Change and promoting a low carbon economy.
The Fifth Carbon Budget will seek to cut carbon emissions by 57% by 2032 (based on 1990 levels) and will be working towards the UK’s overall goal of cutting carbon emissions by 80% by 2050, which was set the Climate Change Act 2008. The Government is clearly recognising that the Climate Change remains to be one the most significant long-term risks to the economy and the UK will still need to be progressive and dynamic in its approach to reducing carbon emissions.
From a business perspective this announcement will reassure investors that the UK is a country where low carbon investment can flourish and as such, even in the wake of Brexit, businesses should continue to implement carbon reduction measures and prioritise low carbon initiatives.
Author: Pete Schofield, Environment Manager
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