The threat of climate change is one of the biggest challenges faced by our society today. Institutions have already taken measures to limit the risks and the social, economic and environmental consequences of this threat.
However, it’s still necessary to consider far-reaching, integrated action against climate change as a priority, from the perspective of public institutions as well as in terms of changing consumption habits and lifestyles.
The science is unanimous: to avoid dangerous climate change, atmospheric greenhouse gas (GHG) emissions in industrial countries must be reduced by between 25% and 40% by 2020, with respect to the levels in the 1990s. This reduction demands a commitment to implement ambitious, consensual and well designed policies related to GHG emissions, to achieve a low-carbon economy.
Government regulation of emissions means introducing legislation that defines the responsibilities and instruments (regulations, taxation, mechanisms and so on) through which meeting commitments made to fight climate change can be ensured.
A Climate Change Law is the best option in considering the responsibility of all sectors, in addition to setting out short, medium and long-term objectives.
This document sets out the advantages of legislation based on the carbon budget mechanism. It shows that it’s possible to adopt a much more ambitious policy with respect to climate change, and provide an instrument that achieves fixed reduction targets, as well as a stable and predictable economic environment.