COP29: UK commits to 81% reduction in GHG emissions by 2035 in new NDC

The UK has strengthened its commitments under the UN Framework Convention on Climate Change, pledging to reduce greenhouse gas emissions by at least 81% from 1990 levels by 2035, Prime Minister Keir Starmer said at the UN Climate Change Conference (COP29) in Baku, Azerbaijan, on Nov. 12.

The ambitious commitment extends the 68% cut by 2030 set under the country's previous nationally-determined contribution following COP26 in Glasgow, UK.

"This COP, the UK has sent a clear message," Starmer said. "We are delivering on our promise for good jobs, cheaper bills, and higher growth. We are backing UK energy and security on the world stage."

NDCs – a key tenet of the Paris Agreement -- are to be submitted every five years to the UNFCCC secretariat, the body that coordinates the global response to climate change under the auspices of the UN.

NDCs are supposed to ratchet up commitments over time in a bid to accelerate climate action and limit global temperature rises.

Starmer highlighted climate and clean energy actions the Labour government had taken since coming to power in July, including scrapping a de facto ban on new onshore wind developments, ending coal-fired power generation, launching national energy company Great British Energy, and announcing funding for low-carbon hydrogen and carbon capture projects.

Starmer also called on other countries to do more.

"Our goal of 1.5 C is aligned with our goals for growth," Starmer said. "But a global problem also requires global partnership. Responsible international co-operation. Which is why we took the opportunity at this COP to again urge all Parties to come forward with ambitious targets of their own."

Platts, part of S&P Global Commodity Insights, assessed tech carbon capture credits at $125/mt on Nov. 11, compared with nearest December UK ETS allowance prices of GBP38.74/mt ($49.61/mt).

The UK is targeting a net-zero power grid by 2030, something the country's National Energy System Operator has said was achievable though challenging.