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UK Off Track to Meet 2030 Net-Zero Target

POWER
Homepagemarkets-real-timeBulletUKBank Of England (BOE) Market News

The UK is currently off track to meet its 2030 Net Zero target, with increases in the share of electric cars, ramping up of wind installation and heat pumps potentially putting the country back on course, UK Climate Change Committee (CCC) said.

  • Only a third of the emissions reductions required to achieve the country’s 2030 target are currently covered by credible plans.
  • “The country’s 2030 emissions reduction target is at risk. The new Government has an opportunity to course-correct,” Chair at CCC Piers Forster said.
  • The committee as listed 10 recommendations which include: Offshore wind installations need to triple, onshore wind installations should double, and solar installations must increase fivefold.
  • About 10% of UK homes will need heat pumps for heating, compared to the current 1%.
  • The market share of new electric cars must go from 16.5% in 2023 to nearly 100%.
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The UK is currently off track to meet its 2030 Net Zero target, with increases in the share of electric cars, ramping up of wind installation and heat pumps potentially putting the country back on course, UK Climate Change Committee (CCC) said.

  • Only a third of the emissions reductions required to achieve the country’s 2030 target are currently covered by credible plans.
  • “The country’s 2030 emissions reduction target is at risk. The new Government has an opportunity to course-correct,” Chair at CCC Piers Forster said.
  • The committee as listed 10 recommendations which include: Offshore wind installations need to triple, onshore wind installations should double, and solar installations must increase fivefold.
  • About 10% of UK homes will need heat pumps for heating, compared to the current 1%.
  • The market share of new electric cars must go from 16.5% in 2023 to nearly 100%.