A plan to limit U.K.
greenhouse gas emissons by 50% from 1990 levels between by 2027 has
been proposed in line with the U.K. government’s commitment to
be the greenest government ever.

The proposal, set out by Energy and Climate Change Secretary
Chris Huhne, is in line with advice from the independent Committee
on Climate Change. It sets a fourth carbon budget of 1950 MtCO2e
for the period that will span from 2023 to 2027, putting the UK on
course to cut emissions by at least 80% by 2050.

“Today’s announcement will give investors the certainty they
need to invest in clean energy. It puts Britain at the leading edge
of a new global industrial transformation as well as making good
our determination that this will be the greenest government ever,”
said Huhne.

“The Coalition Government has set a fourth carbon budget level,
in line with the advice from the Committee on Climate Change, that
sends a clear signal about our determination to transform Britain
permanently into a low carbon economy. By cutting emissions we’re
also getting ourselves off the oil hook, making our energy supplies
more secure and opening up opportunities for jobs in the new green
industries of the future,” he added.

The carbon budget will place the British economy at the leading
edge of a new global industrial transformation, and ensure low
carbon energy security and decarbonisation is achieved at least
cost to the consumer.

The package also includes measures to minimise costs of the
low-carbon transition to industries exposed to international
competition.

“The transition to a low-carbon economy
is necessary, real, and global. By stepping up, showing leadership
and competing with the world, the UK can prove that there need not
be a tension between green and growth.” British Prime Minister
David Cameron

In line with the Coalition Agreement, the U.K. Government will
continue to argue for an EU move to a 30% target for 2020, and
ambitious action in the 2020s.

“We will review progress in EU climate negotiations in early
2014. If at that point our domestic commitments place us on a
different emissions trajectory than the EU Emissions Trading System
trajectory agreed by the EU, we will, as appropriate, revise up our
budget to align it with the actual EU trajectory,” the Government
said in a statement accompanying the announcement.

Before the end of the year we will announce a package of
measures to reduce the impact of government policy on the cost of
electricity for energy intensive industries and to help them adjust
to the low-carbon industrial transformation.

Prime Minister David Cameron commented “When the coalition came
together last year, we said we wanted this to be the greenest
government ever. This is the right approach for Britain if we are
to combat climate change, secure our energy supplies for the
long-term and seize the economic opportunities that green
industries hold.”

“No other country has set legally
binding emission reduction targets going into the 2020s and so with
this decision the UK is demonstrating genuine leadership on climate
change.” Keith Allott, WWF-UK’s head of climate
change.

“In the past twelve months, we have pursued an ambitious green
agenda and today, we are announcing the next, historic step. By
making this commitment, we will position the UK a leading player in
the global low-carbon economy, creating significant new industries
and jobs.

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The full Ministerial Statement is also available here.