The money will come from the auction of carbon emission permits over the next four years aimed at cutting CO2 emissions.
The government has been urged to tackle climate change by developing green technologies Under the EU Emissions Trading Scheme (EU ETS) the government sells permits to industry which sets a limit on the amount of emissions. If they exceed their allowance they have to buy extra permits from other companies.
The organisers of the cap-and-trade scheme, set up in 2005, hope that it will halt and then progressively lower CO2 emissions across Europe. In an open letter to Gordon Brown a coalition of environment and business leaders said the government must show its commitment to tackling climate change by spending the money raised on developing green technologies.
The CBI, WWF-UK and the Energy Research Partnership said the UK could meet its targets for cutting emissions but it would require imagination, innovation and investment.
Subscribe
Subscribe to IEMA's newsletters to receive timely articles, expert opinions, event announcements, and much more, directly in your inbox.
Posted on 23rd May 2008
Latest Posts
-
IEMA focus on skills, adaptation and nature-based solutions in CCC report
- 18th July 2024 -
Labour's plan for economic growth must mean green growth – but there is a green skills gap looming
- 5th July 2024 -
As Labour plans to “slash red tape” for economic growth, YouGov poll finds 3 in 5 people want to increase public involvement in planning system
- 28th June 2024 -
Medtronic agrees partnership with IEMA to accelerate skills and standards in sustainability
- 21st June 2024 -
Landmark climate impact ruling for fossil fuel projects, cites IEMA guidance
- 20th June 2024 -
IEMA sets out 18 policy asks for the next Government
- 3rd June 2024