Britain has proposed legislation setting binding limits on greenhouse gases, Reuters reports.

In its draft Climate Change Bill, the government said carbon dioxide emissions had to be cut by at least 60 percent by 2050, set out five-year carbon budgets to reach the target and created an independent monitoring committee to check annual progress. The draft bill also sets a legally-binding interim target for carbon cuts of 26 to 32 percent by 2020.

“This bill is an international landmark,” Environment Minister David Miliband told a news conference. “It is the first time any country has set itself legally-binding carbon targets. It is an environmental contract for future generations.”