Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

ACT definition

What does ACT mean? In corporate and banking practice, ACT usually refers to the Association of Corporate Treasurers, the UK-based professional body for corporate treasury professionals, rather than a statutory “Act”. It is not defined in legislation or case law; the acronym is market terminology used in transaction documents and governance materials. The Association of Corporate Treasurers promotes professional standards in liquidity management, funding, cash and risk management, foreign exchange and derivatives. It publishes guidance and a code of ethics and awards recognised qualifications (including AMCT and FCT). In legal contexts, references to “ACT-qualified” personnel or to ACT good practice may appear in treasury policies,...

UK Carbon Plan (2011)—Archived: Climate Change Act carbon budgets and sectoral decarbonisation policies for buildings, transport, industry, power and agriculture

Published by a LexisNexis Environment expert

Practice notes

ARCHIVED: This PrACTice Note is archived and not maintained. Brexit: at 11 pm (GMT) on 31 December 2020, the transition/Implementation period following the UK’s withdrawal from the EU came to an end. At that point (referred to in UK Law as ‘IP completion day’), key transitional arrangements ceased and significant changes began across the UK’s legal regime.

Carbon budgets

The Climate Change Act 2008 established a legally binding aim for the UK to cut greenhouse gas (GHG) emissions by 80% against 1990 levels by 2050. To support progress towards the 2050 objective, carbon budgets are set for five-year periods. See Practice Note: Climate change—emissions targets, carbon budgets and net zero.

Percentage reduction below the 1990 base year:

1st carbon budget (2008–12): 23%
2nd carbon budget (2013–17): 29%
3rd carbon budget (2018–22): 35% by 2020
4th carbon budget (2023–27): 50% by 2025

Policy papers

The previous government issued four policy papers:

Low Carbon Transition Plan
UK Renewable Energy Strategy
Low Carbon Industrial Strategy
The Heat and Energy Saving Strategy (consultation)

The change of government in 2010 resulted...

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Web page updated on 22/05/2026

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