Toby Helm and Robin McKie
Sunday, May 15, 2011
Cabinet ministers have agreed a far-reaching, legally binding “green deal” that will commit the UK to two decades of drastic cuts in carbon emissions. The package will require sweeping changes to domestic life, transport and business and will place Britain at the forefront of the global battle against climate change.
The new budget puts the government on target to meet a reduction by 2050 of 80% of carbon emissions compared with 1990 levels. The committee has said that to reach this carbon emissions should be cut by 60% by 2030.
These would include the development of tidal power plants, wave generators and carbon capture and storage technology – which would extract carbon dioxide from coal and oil plants and pump it into underground chambers. All three technologies, if developed in Britain, could be major currency earners.
The committee’s report says the new carbon deal will require that heat pumps will have had to be installed in 2.6m homes by 2025. It also says that by the same date 31% of new cars, and 14% of those on the road overall, will be electric. Experts say a total of £16bn of investment will be needed every year to meet the commitment. Some of this money will be raised through increases in electricity prices.
This article was posted: Sunday, May 15, 2011 at 3:50 am