Mr Miliband said annual targets would not be 'sensible'

The draft Climate Change Bill calls for an independent panel to set ministers a "carbon budget" every five years, in a bid to cut emissions by 60% by 2050.

If they miss the figure, future governments could be taken to court.

The Tories and Lib Dems welcomed the proposals, but said carbon budgets should be set annually.

Mr Miliband has said annual targets would be too rigid to make allowances for climate variations.

He hailed the draft bill as "the first of its kind in any country", and said Britain was "leading by example".

'Rolling targets'

The draft legislation will go to public and parliamentary consultation before becoming law next year, but environmental campaigners want to raise the 2050 target to 80% and set annual 3% cut targets to ensure compliance.

Current government support for renewable energy has descended into a farce

Sian Berry, Green Party

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Shadow environment secretary Peter Ainsworth, for the Conservatives, said the proposals were a "welcome step forward," although he said some "key elements" were missing at present.

"We would like to see a system of rolling annual rate of change targets - rather than targets set for five-year periods - to ensure that the UK remains on track towards a low carbon economy and to ensure true accountability.

"There is a danger that the five-year approach will enable responsibility for failure to be shunted on from one government to another."

But he added it would be a "great help" in international climate change negotiations "to be able to say, 'look we are making binding legal commitments".

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The carbon reduction targets will be based on advice by an independent committee.

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If future governments fail to achieve the targets, they could be taken to court, with a judicial review deciding what punishment - if any - to hand out.

The draft bill does not stipulate how the cuts should be made, or give specific reduction targets for individual businesses, councils and households.

Mr Miliband said there were "big decisions" to be made on issues such as using nuclear power.

He added: "In the end I don't care where the carbon reduction comes from. It's about the public interest and the market finding it."

The government plans include:

Targets to reduce carbon emissions by 60% by 2050, from 1990 levels, and between 26% and 32% by 2020

Greater energy efficiency, with more consumers becoming "producers" of their own energy at home

Investment in low-carbon fuels and technologies, such as carbon capture and storage, wind, wave and solar power

Carbon "budgets" - which cap emissions levels - set every five years