The company is seeking greater Government, industry and consumer collaboration in order to meet the Government targets of 80 per cent emissions reduction by 2050, and 15 per cent renewable energy sources by 2020.  National Grid Chief Executive, Steve Holliday, said; Despite the challenging economic conditions, we must not take our eye off the ball in tackling climate change. This joined-up approach is essential to get the right legislative and regulatory frameworks in place and ensure necessary infrastructure investment is available in a timely manner for the connection of new renewable sources of electricity generation, and development of technologies such as biogas production, and linking smart meters into smart grids. However, electricity is not the full story. Heat and transport must also play their part. These are all areas where policy is still to be developed and new technology needs to be fostered. That is why we need a Masterplan. National Grid has developed scenario’s to determine the projected energy mix required to meet Government's 2020 climate change and renewable sources targets. It is investing around pound;3 billion a year in its electricity and gas networks - approximately three quarters of this investment in the UK - and focusing on new technologies to enhance energy efficiency across its networks. The company is also implementing annual carbon budgets across all its operations from 1 April 2009 and aligning emissions reductions alongside customer service, reliability, safety and financial performance management. National Grid's Head of Climate Change and Corporate Responsibility, Joe Kwasnik, said; We believe National Grid is one of the first companies in the world to align company-wide emissions with performance management. Our new interim emissions reduction target of 45 per cent by 2020 - which goes further than the European Union's potential 30% reduction commitment by 2020 - will provide a more relev...