💰 With proper support, households are set to benefit from the adoption of low-carbon, efficient technologies.

📉 This year, we advised on the Seventh Carbon Budget which covers 2038-2042 and sets a limit of 535 million tonnes of carbon dioxide equivalent.

⚡ Electrification makes up 60% of emissions reductions by 2040.

🌍 A carbon budget is a cap on the amount of greenhouse gases the UK can emit over a five-year period.

👏 So far, the UK has met all three carbon budgets. Three more are already set in law, mapping out the UK’s decarbonisation path until 2037.

We’re really proud of the advice – and will keep sharing our findings over the coming weeks and months.

Read the report itself here: www.theccc.org.uk/publication/...

By 2050, if our pathway is delivered against, annual household energy bills are predicted to be ~£700 cheaper than today, and household driving bills are predicted to be ~£700 cheaper than today.

In many key areas of the transition the way forward is clear. Globally, the world now invests almost twice as much in clean energy as it does in fossil fuels, with clean energy investment expected to reach $2 trillion in 2024.

Around 65-90% of the required investment will be paid by the private sector. But we will need targeted public investment too. It’s important that policymakers ensure this money goes in the right place - to unlock private investment.

This will require initial investment, but we expect to start seeing savings in the Seventh Carbon Budget period. We think it’ll cost about 0.2% of GDP from now to 2050. This is less than we thought when we last gave advice in 2020.

We’ve looked at what this means for a household. We commissioned a citizen’s panel and have thought about what this means for each one of us over the next 25 years.

Electrification makes up 60% of emissions reductions by 2040. This includes decarbonising the grid and replacing fossil fuelled cars and heating systems with electric alternatives.