Carbon Offset Demystified
Carbon Offset Demystified
Carbon Offset Demystified
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Climate Change Act<br />
• Climate Change Bill introduced in November 2007 and<br />
signed into law on 26 th November 2008… thus becoming the<br />
Climate Change Act<br />
• DEFRA: “…world’s first long term legally binding framework<br />
to tackle the dangers of climate change”<br />
• Key points; long term & legally binding<br />
• Government set 5 year legally binding “carbon budgets”<br />
• Budgets for 2008-2012, 2013-2017 and 2018-2022 have<br />
been set requiring a reduction in emissions of 31% from<br />
2005 levels<br />
• Equal to a reduction in emissions of 175 MtCO 2e<br />
• Commitment to reduce emission 80% from 1990 levels to be<br />
achieved by 2050 (41 years time)
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