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<p>The International Energy Agency has suggested that around a third of global fossil
fuel reserves are burnable under a 2°C scenario.</p><br /><p>In the UK, we are committed
to implementing the Wood Review recommendations to maximise economic recovery of oil
and gas in a way that is compatible with our climate change targets. Maximising recovery
both in terms of increasing efficiency of production, as well as increasing levels
of production of the UK’s oil and gas, will help maintain security of supply as well
as boost growth and jobs.</p><br /><p>This Government remains committed to the Climate
Change Act and to meeting our climate change target of an 80% emissions reduction
by 2050. This will mean reducing the amount of fossil fuels we use – through improved
energy efficiency and increased supplies of low carbon energy - as well as reducing
other sources of emissions. As part of our efforts to reduce emissions I have already
announced that the Government will consult on proposals to end coal power generation
by 2025 and restrict its use from 2023.</p>
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