The UK this week set its fifth carbon budget, pledging to reduce emissions by 57pc below 1990 levels by 2032. The Climate Change Act sets a long-term goal of an 80pc reduction in emissions from 1990 levels by 2030, achieved through a series of five-year carbon budgets. The fifth carbon budget will cap greenhouse gas (GHG) emissions at 1,725mn t of CO2 equivalent (CO2e), excluding shipping emissions. This was one of four options under consideration ranging from 1,670mn t CO2e to 2,100mn t CO2e and in line with the recommendations of independent UK government advisory body the Committee on Climate Change. While the previous carbon budget was set at 1.95bn t in 2023-27. A stricter carbon budget should offer greater support for renewable generation and prevent unnecessary carbon-intensive generation.
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