Overview

This bill aims to amend the Climate Change Act 2008, increasing the UK's target for reducing net carbon emissions by 2050 from at least 80% to 100%.

Description

The Carbon Emission Reductions Bill amends the Climate Change Act 2008 to achieve a 100% reduction in net carbon emissions by 2050. This involves:

• Changing the 2050 Target: Replacing the existing "at least 80%" reduction target with a "100%" target in section 1(1) of the 2008 Act.
• Updating Carbon Budgets: Mandating the Secretary of State to update all relevant carbon budgets within six months of the bill's passage to align with the new 100% target (Section 2).
• Removing Redundant Clauses: Removing clauses in the 2008 Act that are now redundant due to the change in the 2050 target.
• Bill Applicability and Commencement: The bill applies to the whole of the UK and comes into force immediately upon being passed (Section 3).

Government Spending

The bill doesn't directly specify government spending figures. However, achieving the 100% reduction target will likely necessitate significant investment in renewable energy infrastructure, carbon capture technologies, and potentially other policy interventions. The exact cost is difficult to predict and will depend on the chosen strategies for decarbonization.

Groups Affected

The bill will affect a wide range of groups, including:

• Energy Companies: Facing increased pressure to transition to renewable energy sources and reduce emissions.
• Industries: Requiring adaptation of processes and technologies to meet stricter emission targets, potentially involving substantial investments.
• Consumers: Potentially facing changes in energy costs and lifestyle choices to support the emission reduction goals.
• Government: Responsible for setting and implementing policies to achieve the 100% target, requiring significant regulatory and financial resources.
• Environmental Groups: Likely to see this bill as a positive step towards tackling climate change.

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