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In order to adapt to the impact of climate change, and in light of the findings of the Stern Review, this Government Bill seeks to ensure the UK meets its long-term goal of reducing carbon dioxide emissions by creating an economically credible reduction pathway to 2050 and beyond. Measures include: creating statutory emissions reduction targets and carbon budgeting; the creation of an independent advisory body (the Committee on Climate Change) to advise the Government and devolved administrations on how to reduce emissions over time and across the economy; new powers to enable the Government and the devolved administrations to introduce new domestic trading schemes to reduce emissions through secondary legislation; and a system of annual reporting on the UK's greenhouse gas emissions.