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Urgent action needed on carbon budget – Committee on Climate Change
The fourth carbon budget should not be changed, the Committee on Climate Change (CCC) has advised.
The committee compared a strategy of reducing emissions through the 2020s with one where action is delayed until the 2030s, and found significant savings associated with early action. The impacts of meeting the budget are “small and manageable”, the CCC concluded.
Low-carbon policies are expected to add around £100 to residential bills in 2020, but the impacts on fuel poverty are broadly neutral, and the risks of future off-shoring in response to rising electricity prices is mitigated under current government policies.
Broader benefits included in meeting the fourth carbon budget include improved energy security, improved air quality and reduced noise pollution.
Lord Deben, chairman of the CCC said: “This report shows the clear economic benefits of acting to cut emissions through the 2020s. This provides insurance against the increased costs and risks of climate-related damage and rising energy bills that would result from an alternative approach to reduce and delay action.
“While it is essential to understand affordability and competitiveness impacts associated with the budget, the evidence suggests that these are relatively small and manageable. The Government should confirm the budget as a matter of urgency. This would remove the current uncertainly and poor investment climate. It would provide a boost to the wide range of investors who stand ready to invest in low-carbon technologies.”
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