The UK has upgraded its climate emission reduction target for 2030 to 68% (up from its previous target of 57%). The pressure is now on for the Government to explain how it plans to achieve this ambitious goal. Next week the government is expected to publish a policy paper that will clarify some regulatory measures that will help drive the transition to clean energy. Many hope that this will form a key part of the Government's Covid-19-related economic recovery package, and it could generate significant opportunities for those looking to invest in low carbon initiatives.
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Another step in the race to net zero
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The UK on Friday threw down the gauntlet to other countries ahead of a climate summit next week by becoming one of the first leading economies to upgrade its carbon emissions reduction target for 2030. Prime minister Boris Johnson set a target for the UK to slash its emissions by 68 per cent by the end of the decade, relative to 1990 levels, in a move that will require restructuring a significant portion of the economy.
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