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Fourth Carbon Budget

We have not accepted a number of the other detailed recommendations in the committee's report, but the trading one is an obvious example. It also asked us to set a target for 2030, and we do not see the need for that. I am not a great believer in intermediate targets when we have a very clear overall carbon budget, but given our commitment to a target figure of 1,950 million tonnes for the overall carbon budget for 2023 to 2027, nobody should be in any doubt about the thrust of our policy or our determination to meet our target. I have a very strong preference for achieving what we are actually trying to do, which is to cut carbon emissions, rather than for setting a whole group of intermediate targets, but that we will do.