Following the publication of a report today by the Energy and Climate Change Select Committee, Setting the fifth carbon budget, the Aldersgate Group stressed that an unequivocal adoption of the fifth carbon budget recommended by the Committee on Climate Change (CCC), backed up by a clear plan to deliver it, was essential to cut emissions cost-effectively and support the continued growth of the UK’s low carbon economy.
Nick Molho, Executive Director of the Aldersgate Group said: “Last December, the UK played a commendable role in the success of the Paris climate change agreement, which was signed by over 170 countries just a few days ago. Now is the time to translate international commitments into a new set of national policies to guide cost-effective investment in energy efficient, low carbon transport and clean energy technologies over the next 15 years.
Adopting the CCC’s fifth carbon budget recommendations, which are based on the minimum levels of emission cuts the UK needs to deliver out to 2032 if it is to meet its long-term targets affordably, is an important part of this.”
Nick Molho added: “With China having increased its investment in clean energy by 120% over the last five years and the international low carbon goods and services sector already worth $5.5tn in 2015, it is clear that the international low carbon economy is rapidly growing. It is key to the UK’s future economic competitiveness that it continues to support the growth of its low carbon economy whilst also taking care to provide the necessary support to its energy intensive sector during this transition.”