Committee on Climate Change

In advising on the level of the carbon budgets up to 2027 and the long-term 2050 target, the Committee considers the full range of economic impacts for the UK, this includes analysis of the:

Costs and opportunities associated with meeting carbon budgets

• Impacts on the UK’s competitiveness
• Impacts of the recession on efforts to tackle climate change
• The level of the carbon price
• Security of supply issues
• Fuel poverty impacts
• Impact of carbon budgets on people

In assessing costs and benefits, the Committee aims to follow Green Book principles. The appropriate discount rate for use in appraisal is a recurring issue in our modelling. This note aims to provide further guidance on our approach.