In the aftermath of the EU referendum, there are large amounts of uncertainty across all sectors of business in the UK, and the Renewable Energy industry is no exception. So it was well received when the Government announced it would be setting the fifth, legally binding carbon budget, and to a tougher standard than required by the EU. This continues a series of carbon budgets that each represents ~5 years and ultimately aim to cut UK CO2 emissions by 80% by 2050. Specifically, this carbon budget, which covers the years 2028-2032, states that a maximum of 1,725 million metric tonnes of carbon dioxide equivalent may be emitted.
This is definitely a clear step in the right direction and is a reassuring indication of the Governments intentions with regards to climate change policy. Given the Governments recent track record, many were worried that without guidance and legislation from the EU, the UK would do little to tackle the climate crisis, but this confirmation has waylaid some of those fears.
However, as yet there is no plan or explanation as to how this ambitious target is going to be met. There are plans in place for preceding carbon budgets, but it is questionable whether the UK has policies that can sufficiently support, encourage and achieve the changes that need to be made in order to meet these targets. We shall have to see!