Speaking this afternoon in their first joint press conference, David Cameron and Nick Clegg today vowed to make the formation of a low-carbon economy one of the centrepieces of their coalition government. They pledge to deliver a "full programme of measures" designed to deliver deep cuts in carbon emissions.

The press conference coincided with the release of a seven-page document outlining the coalition agreement between the two parties, including a full page on environmental policy. The document includes a full list of shared green policies that will be introduced during the next parliament, and states that the parties "agree to implement a full programme of measures to fulfill our joint ambitions for a low-carbon economy."

Flagship proposals include a commitment to implement smart metering and a major overhaul of renewable energy policy

Flagship proposals include a commitment to form a green investment bank, launch a green home scheme paid for through savings in energy bills and establish a smart grid and roll out smart metering.

The document also proposes to develop a high-speed rail link, mandate the rollout of a national electric vehicle charging network, cancel plans for a third runway at Heathrow and block proposals for expansion at Stanstead and Gatwick. It also introduces a new performance standard that will prevent coal-fired power stations from being built unless they are equipped with sufficient Carbon Capture and Storage (CCS) technology to meet the new standard.

Regarding energy renewables, the document proposes a major revamp of renewable energy policy that will see the "full establishment of feed-in tariff systems in electricity - as well as the maintenance of banded ROCs (renewable obligation certificates)", and new measures to promote the adoption of anaerobic digestion and marine energy technologies.

In a move that could isolate some Conservative back-benchers opposed to wind farms and renewable energy projects, the coalition has also committed to increase the target for energy from renewable sources, subject to the advice of the Climate Change Committee.

The shift is likely to draw a mixed response from the renewable energy industry, with some experts having warned that any change to the ROC system could undermine investor confidence.

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