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This Order sets the carbon budget for the 2023–2027 budgetary period (1,950 million tonnes of carbon dioxide equivalent). Carbon budgets set a cap on the maximum level of the net UK carbon account for each five-year budgetary period. The net UK carbon account is defined in section 27 of the Climate Change Act 2008.
A full impact assessment of the costs and benefits of this instrument is available at the website of the Department of Energy and Climate Change: www.decc.gov.uk, and it is also published alongside the instrument and its Explanatory Memorandum on the legislation website of The National Archives (http://www.legislation.gov.uk).
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Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
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