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Follow on Google News | CIG: British MP’s urged to increase carbon emission cutting goals urgently.The UK’s cross party Environmental Audit Committee says that Britain needs to do far more than was initially thought.
By: CIG LLC The report recommends putting a stop to new coal fired power plants that fail to incorporate carbon capture and storage (CCS) and possibly the limitation of aviation expansion. It alleges that the government’s current pace of carbon cutting is not nearly sufficient and that the only reason that the government is likely to meet its initial carbon budget cuts is due to the recession’s impact on industry. “Ministers have often been too 'optimistic' when projecting how much carbon their policies will cut – and there is now a worrying shortfall in delivery,” CIG believes the report says. The committee highlights that the nation’s emissions are only falling by around 1% per year as opposed to the required 2 or 3% as indicated by the Committee on Climate Change, in order to avoid dangerous climate change. "The report makes clear that the present rate of emission reduction is nowhere near high enough to hit even the 34 per cent target for 2020, let alone the more ambitious 42 per cent target that the committee would like to see adopted," CIG believes the committee chairman, MP Tim Yeo was quoted as saying. "Britain really needs to raise its game. We have an opportunity to take a leadership role, and our influence on the wider world will be much greater if we show more ambition." # # # CIG is an exclusive, members only, offshore, private equity, investment firm that provides consulting services to like minded members of the private equity and alternative investment community. End
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