DEFINE LOW CARBON ECONOMY

As highlighted in this story, the Brits so often seem to center their politcal battles on things that matter (like global warming, in this case)...

Govt sets out blueprint for low carbon economy
March 13, 2007 (AFP via Yahoo News)
- The [UK] government…published its blueprint to become the world's first low carbon economy, setting legally binding targets to reduce the country's greenhouse gas emissions.

- Environment Secretary David Miliband said the draft Climate Change Bill was an "international landmark" while Prime Minister Tony Blair said the "revolutionary" plans showed Britain led the world on tackling climate change.
- The bill would set interim targets to reduce carbon dioxide emissions by 26 to 32 percent by 2020 and 60 percent by 2050…it will enshrine in law five-year "carbon budgets" set at least 15 years ahead to cap CO2 levels and set up a new independent body to advise the government and report to parliament on future action.
- The bill would also give the government more "enabling" powers…
- Miliband said the government's proposals would help influence energy-hungry, emerging economies like India and China to take steps to reduce their emissions…

- Blair told a news conference at his Downing Street office: "This is a revolutionary step…It sets an example to the rest of the world…But it's also practical policy making. These are proposals that are fair, that will work, that allow business and citizens to play their part without being penalised unfairly."
- The bill's publication comes a day after Labour's Chancellor of the Exchequer Gordon Brown and the main opposition Conservative leader David Cameron sought to seize the "green" vote by setting out rival visions…Both men are likely to lead their parties at the next general election, which is due before 2010 at the latest, and the environment is increasingly seen as a key battleground…