Overview

This bill aims to amend the Climate Change Act 2008, changing 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. Specifically, it replaces the existing 80% reduction target for 2050 with a new target of 100% net carbon emission reduction. The bill also requires the Secretary of State to update all relevant carbon budgets within six months of the Act's passing to reflect this new, more ambitious target. The changes remove references to the previous 80% target from various sections of the 2008 Act.

Government Spending

The bill itself doesn't directly specify any new government spending. However, achieving the 100% reduction target will likely require significant investment in renewable energy, energy efficiency measures, and carbon capture technologies. The exact cost is not specified in the bill but will necessitate substantial future government expenditure or incentivization through policies that drive private sector investment.

Groups Affected

The bill will affect numerous groups, including:

• Energy companies: Likely to face increased pressure to transition to renewable energy sources and reduce carbon emissions.
• Businesses: Will face stricter emission reduction targets, potentially necessitating investment in cleaner technologies and processes.
• Consumers: May experience changes in energy prices and increased costs associated with adopting more sustainable practices.
• Government departments: Will need to develop and implement policies to meet the more challenging emission reduction target.
• Environmental groups: Will see their advocacy efforts potentially strengthened by the establishment of the more ambitious target.

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