Building a low-carbon economy – The UK’s contribution to tackling climate change

Dec 2008

Climate change resulting from CO2 and other greenhouse gas emissions poses a huge threat to human welfare. To contain that threat, the world needs to cut emissions by about 50% by 2050, and to start cutting emissions now. A global agreement to take action is vital. But a global agreement will not be possible unless the countries of the rich, developed world provide leadership. A fair global deal will require the UK to cut emissions by at least 80% below 1990 levels by 2050.
The good news is that reductions of that size are possible without sacrificing the benefits of economic growth and rising prosperity. Technologies are available or with appropriate support could be developed which deliver low-carbon energy; opportunities to increase the efficiency with which we use energy are huge; lifestyle changes which will not undermine welfare can produce significant cuts in energy consumption. And many of the actions required to tackle climate change we should want to do anyway because these have economic, wider environmental and security of supply benefits.
But the potential will not be achieved without appropriate policies: financial incentives through carbon prices, taxes and subsidies; support for technology innovation; information and encouragement; and regulation when needed. The challenge is not the technical feasibility of a low-carbon economy but making it happen. Ensuring action will require strong leadership from government and a concerted response from individuals and businesses. It will require policy commitment to cutting emissions steadily over time, sticking on the path to an 80% reduction, and reacting to any diversion with new policies to get back on track. The UK’s Climate Change Act makes that commitment, establishing a system of five year “carbon budgets”. The Committee on Climate Change is charged with recommending the level of those budgets.
In this our first report, why the UK should aim for an 80% reduction by 2050 and how that is attainable is explained, and the first three budgets that will define the path to 2022 are recommended. Achieving this path requires strong policies; some of these are already in place, some need to be reinforced, and some new ones will be required.
But the path is attainable at manageable cost, and following it is essential if the UK is to play its fair part in avoiding the far higher costs of harmful climate change.

By: Committee on Climate Change - TSO

 
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