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The Fourth Carbon Budget: Reducing emissions through the 2020s

Report setting out the advice of the Committee on Climate Change on the fourth carbon budget, covering the period 2023-2027, as required under Section 4 of the Climate Change Act.

Year of Publication2010

This report sets out the advice of the Committee on Climate Change on the fourth carbon budget, covering the period 2023-2027, as required under Section 4 of the Climate Change Act. Its key recommendations and findings are:• An Indicative 2030 target to reduce emissions by 60% relative to 1990 levels (46% relative to 2009 levels).• A Domestic Action fourth carbon budget of 1950 MtCO2e to be legislated in the first instance and to be achieved on a gross basis (i.e. without credit purchase).• A Global Offer budget of 1800 MtCO2e indicating a minimum UK contribution to a future global deal to be legislated when a global deal for the 2020s is agreed.• The second and third budgets should be adjusted to reflect the level of ambition in the Intended budget for the non-traded sector, giving an economy-wide reduction of 37% in 2020 relative to 1990.• International aviation and shipping should in future be included in carbon budgets.• The cost of meeting the Domestic Action and Global Offer budgets is under 1% of GDP.• Annual investment requirements through the 2020s are around £16bn.• New policies will be required, including fundamental reform of the electricity market.

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