Our submission focussed on the following key issues:
The UK cannot act alone – EEF argued that only through swift and concerted international agreement and action can global warming be limited to no more than 2oC. Despite setting itself the highest carbon reduction target for 2020, than for any other developed country, there was no reward for the UK acting on its own.
The UK Requires additional funds to meet its carbon budgets - EEF welcomed the provision of £405 million in the Treasury’s 2009 Budget to support low-carbon industries and advanced green manufacturing.
However we criticised the overall level of funding for green initiatives, initial calculations indicate that the new funds only constitute to about a quarter of one per cent of government spending.
EEF has called for the government to ensure that further funding commitments designed to achieve its carbon reduction goals, and realise opportunities for business, must: be bolder; be new; and be for the long term.
Carbon credits are a valuable mechanism to meet national reduction targets - EEF believes that the option of meeting domestic targets through carbon credits derived from emission trading schemes is essential. Emissions should be reduced where it is most cost-effective to do so. Therefore, there should be as few restrictions as possible over the quantity and sources of credits which can be used to meet the UK’s targets.