Britain has set itself quite a tough target despite much opposition. The government said that it would aim to reduce carbon emissions to 50% of the 1990 levels by the year 2027. The target is pretty optimistic and the advisers as well as politicians have opposed claiming that it is very hard to meet.

Britain has also set binding targets for greenhouse gas emissions over four-five year periods to 2027. They call them carbon budgets and they aim for cutting emissions by 80% from the 1990 levels by the middle of the century, which is quite optimistic indeed.

The secretary of state for energy and climate change, Ed Davey, said on Tuesday that retaining the budget at its existing level will ensure certainty for investors by demonstrating the commitment of the government to the long term goal of substantially curbing carbon emissions.

The budget that will cover the period from 2023 to 2027 has been a point of contention among the politicians and some of them suggest a more reachable goal and a weaker emission-cut target so that the economy does not suffer.

Whereas, on the other hand, advisers have suggested that curbing the goal down may also undermine investor confidence in the kind of technology that emits lesser carbon. The fourth carbon budget was set in the year 2011 but it was agreed that it would be considered for revision by 2014.

The Committee on Climate Change warned the Parliament last week that despite rigorous reforms to the electricity market, Britain still risked not achieving its goals set under the fourth budget.

"Any revision now would be premature, especially in light of the ongoing negotiations in the EU to agree a domestic 40% GHG (greenhouse gas) reduction target for 2030 by October", said Davey.