UK Businesses Set Ambitious Targets to Reduce Greenhouse Gas Emissions by 2050
The government has announced it will implement the recommendations of the Committee on Climate Change (CCC), creating a legally binding ‘net-zero’ carbon target for 2050. This follows the recent request and lobbying from 128 UK-based businesses and investors to ministers, urging them to revise targets. The property industry is a major contributor to greenhouse gas emissions, accounting for 30% of the UK’s carbon emissions1.
The UK already has a target to reduce emissions by 80% by 2050. However, the new goal is to amend the Climate Change Act of 2008, to make it possible to achieve ‘net zero’ greenhouse gases by 2050. Many policies are already in place to achieve this, including: a supply of low carbon electricity; efficient buildings and low carbon heating; electric vehicles; phasing out fluorinated gases and developing carbon capture and storage technology. However, current policies will need to be strengthened in all carbon-emitting sectors across the economy, in order to achieve the more stringent targets. The overarching aim is to ensure that global temperature rises do not exceed the recommended 1.5C temperature rise – the threshold for dangerous climate change – before 2100.
However, it has been reported that these goals are only achievable by putting in place clear, well-defined policies with immediate effect. By doing so, the UK would be the first G7 country to legislate for ‘net zero’ emissions and would thus demonstrate leadership on a global level.
To read the full report from the CCC, click here.
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1 UK Green Building Council (UKGBC)