Categories: Market Overview

The climate is changing rapidly: what does Britain offer?

British people need to fly less, drive electric cars, eat little meat and turn their home thermostats down to 19 degrees Celsius (66 Fahrenheit) in order to rein in greenhouse gases damaging the planet.

Those are the recommendations from the government’s official adviser on climate change and sketch out the toughest measures anywhere in the industrial world to rein in pollution. Drawn up by a panel including lawmakers, scientists, industry officials and analysts, their 277-page report also suggests a drastic overhaul for industry, agriculture and aviation.

The findings mark out the ways Prime Minister Theresa May and her successors can reach a target to cut net emissions to zero by 2050, something scientists say is necessary to prevent more violent storms and rising seas that come with climate change. It’s an indication that there’s a growing consensus on the environment in the U.K. even as lawmakers remain deeply divided about how the nation should leave the European Union.

Electric vehicles should replace ones running on gasoline or diesel by 2035 or earlier.

Coal should be phased out of the power grid in the 2020s, with renewables taking a bigger share.

Carbon-capture and storage plants should be built early in the next decade and expanded to absorb more emissions from remaining fossil-fuel plants.

Trees should be planted at a pace of 30,000 hectares (116 square miles) each year, double the current rate.

Buildings should draw heat from underground pumps and electricity, phasing out boilers fueled by natural gas.

Consumers should reduce food waste and eat things that require less carbon, prioritizing plant-based nutrients over meat.

Emissions cuts should be done without offsets from international carbon markets.

U.K. Government Told to Adopt World’s Toughest Climate Targets, Bloomberg, May 02
The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

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