The UK government will keep its goal to cut carbon emissions in half by 2027 from 1990 levels.
The decision not to amend the carbon budget, which covers the period from 2023 to 2027, “reflects the views of the vast majority of businesses, investors and environmental groups,” Ed Davey, UK secretary of state for energy and climate change, said yesterday.
“As business groups have made clear, retaining the budget at its existing level provides certainty for businesses and investors by demonstrating government’s commitment to our long-term decarbonization goals,” Davey said. “Our support for the UK’s energy intensive industries in the 2014 Budget underlined the government’s continued commitment to protect the competitiveness of UK business.”
Manufacturers need more incentives to invest in low-carbon and energy efficient technologies if the UK is going to meet its low-carbon economy goals, according to 2012 study from the Institute for Public Policy Research.