As expected, a Climate Change Bill was announced in the Queen’s Speech delivered to Parliament on Wednesday 15 November.

However, while it will set a legally-binding target of a 60% reduction in carbon emissions by 2050, it will not set annual targets. And without shorter term
‘milestones’, the achievement of a longer term target must be at risk.

The Government did however say that it would “also consider appropriate interim targets”.

The legislation will:
■ put the Government’s long-term goal to reduce carbon dioxide emissions by 60% by 2050 into statute
■ establish an independent body – the Carbon Committee – to work with Government to reduce emissions over time and across the economy
■ create enabling powers to put in place new emissions reductions measures needed to achieve the goals
■ set out improved monitoring and reporting arrangements, including how the Government reports to Parliament.

http://www.pm.gov.uk/files/pdf/climate%20change.pdf