New Climate Change Legislation Planned Following Stern Review
The Stern Review, published on 30/10/06, sets out the economic case for action on climate change, and concludes that the cost of inaction will be far higher than tackling climate change now. New legislation is under development which will put in place a long-term framework for emissions reductions. It is envisaged that the legislation will enable the UK to benefit economically by becoming a leading low carbon economy ahead of its competitors.
The climate change legislation will comprise four key elements:
- It will put the Government’s long-term goal to reduce carbon dioxide emissions by 60 per cent by 2050 into statute. How the target is defined and set, and how we measure and report on our progress, are fundamental issues that we are still considering. We will also consider appropriate interim targets.
- It will establish an independent body – the Carbon Committee – to work with Government to reduce emissions over time and across the economy. Its advice will be open, transparent, equitable and mindful of sectoral and competitiveness impacts, including the need to secure energy supplies at competitive prices.
- It will create enabling powers to put in place new emissions reduction measures needed to achieve our goals.
- It will improve monitoring and reporting arrangements, including how the Government reports to Parliament.
The timescale for introducing the legislation has not yet been set. The Stern Review report on the Economics of Climate Change can be found on the Treasury website, click here
Source: www.defra.gov.uk (accessed 06/11/06)
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