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Posted 1 day ago | 2 minute read

UK announces “ambitious” climate goal

Prime Minister Keir Starmer has announced a new climate target – to reduce the country’s emissions by 81% by 2035 against 1990 levels. 

At the COP29 summit in in Baku, Azerbaijan’s capital, on 12 November, Starmer said that the “government recognises that the world stands at a critical juncture in the climate crisis”. But “the United Kingdom not only has a critical role to play…But also, an opportunity to grasp…The chance to maximise opportunities for Britain”. He pledged that the UK will cut carbon emissions by 81% by 2035, compared to 1990 levels. This will be achieved by shifting away from fossil fuels for electricity generation by 2030, as well as through an expansion of offshore wind, and investments in carbon capture and nuclear energy.

Starmer’s goals make up one of the first national plans on cutting emissions, known as “nationally determined contributions” or NDCs, to be revealed at this year’s climate summit COP29. The UK is one of the first countries to announce an NDC, with the deadline approaching in February next year.

Noting that “climate action is at the heart of this government’s mission for the protection and prosperity of Britain and the world”, Starmer also announced the launch the new CIF Capital Market Mechanism, listed on the London Stock Exchange, which has the potential to mobilise up to $75B in additional climate capital for developing countries over the next decade.

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