Energy secretary slamms thye suggestion the UK should suspend its legally binding climate reduction targets
Energy secretary Ed Davey has s former environment secretary Owen Paterson鈥檚 suggestion that the government should scrap its legally binding carbon emissions reduction targets
Davey said following through with Paterson鈥檚 proposal would be 鈥渙ne of the most stupid economic decisions imaginable鈥�.
Speaking at a lecture for think tank the Global Warming Policy Foundation on Wednesday, Paterson said the Climate Change Act, which commits the UK to reduce its carbon emissions by 80% by 2050, 鈥渟hould be effectively suspended and eventually repealed鈥�.
He argued it encouraged a policy of too much investment in renewable energy technologies and required too much subsidy. He said the government should encourage energy efficiency, small nuclear, shale gas and combined heat and power plants instead.
But Davey hit back saying 鈥淢ost leading British businesses and City investment funds agree with the Coalition that taking out an 鈥榠nsurance policy鈥� now will protect the UK against astronomical future costs caused by a changing climate.
鈥淚ndeed, the majority of European countries have now come around to the UK鈥檚 way of thinking and are ready to implement proposals that would see other European countries adopt targets similar to our Climate Change Act in a deal the Prime Minister should seal later this month.
He said the 鈥済lobal marketplace鈥� for Britain鈥檚 green technology was 鈥渋ncreasingly strong and should balloon over the next decade鈥�
He concluded: 鈥淩ipping up the Climate Change Act would be one of the most stupid economic decisions imaginable.鈥�
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