We expect CO2 emissions to fall to about 15 per cent. below 1990 levels by 2010, taking into account the impact of credits surrendered through the EU emissions trading scheme. Our goal, which we adopted in 1997, was challenging, but that was its purpose. It was designed to give a clear signal of the direction in which policy was moving, allowing long term planning and stimulating innovative responses. In these respects it has been successful.