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Europe's current focus on recovery from recession must not distract us from the question of what kind of economy we want to build. Unless we set our countries on a path to a sustainable low-carbon future, we will face continued uncertainty and significant costs from energy price volatility and a destabilising climate.\nThis is why we today set out our belief that the European Union should raise its emissions target. A reduction of 30 per cent from 1990 levels by 2020 would represent a real incentive for innovation and action in the international context. It would be a genuine attempt to restrict the rise in global temperatures to 2°C - the key climate danger threshold - stiffening the resolve of those already proposing ambitious action and encouraging those waiting in the wings. It would also make good business sense.
The UK’s low carbon industries could deliver “more than a million jobs… by the middle of the next decade”, according to business secretary Peter Mandelson who today trailed a package of new measures designed to support the emerging sector.
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