23.—(1) The Department must by regulations set a maximum total amount for the net Northern Ireland emissions account for each budgetary period.
That amount is referred to as the “carbon budget” for that period.
(2) The Department must—
(a)carry out a public consultation lasting at least 16 weeks on proposed carbon budgets,
(b)commission a financial, social, economic and rural impact assessment on the effects of the carbon budget for that period, and
(c)consult the Northern Ireland Climate Commissioner, the other Northern Ireland departments and the Just Transition Commission and lay proposals before the Assembly.
(3) When seeking advice on setting the carbon budget, or on other environmental issues, the Department is to give due regard to the expertise and advice of the following bodies—
(a)the Republic of Ireland Climate Change Advisory Council; and
(b)the Intergovernmental Panel on Climate Change.
(4) The budgetary periods are—
(a)2023 to 2027, and
(b)each succeeding period of five years.
(5) The Department may by regulations amend subsection (4) so as to change a budgetary period.
(6) See—
(a)sections 25 to 28 for provision about the setting and adjustment of carbon budgets, and
(b)section 55 for restrictions on the power conferred by subsection (5).