EC Communications analysis costs and benefits of 30% CO2 reduction target
May 26, 2010On May 26 the the European Commission presented an analysis of the costs, benefits and options for moving beyond the EU’s greenhouse gas reduction target for 2020 from 20% below 1990 levels to 30% once the conditions are met. At present these conditions have not been met. This communication follows the Commission’s Communication on “How to reinvigorate international climate negotiations” and the Council’s request to present an assessment on the impacts of a conditional move to a 30% emissions cut. The measures taken to support energy-intensive industries against the risk of carbon leakage are also examined as required under the ETS (Emissions Trading System) Directive. The Communication shows that the reduction in EU emissions as a consequence of the economic crisis, together with a drop in carbon prices, has changed the estimations two years ago when the revised ETS was presented. Therefore in light of the new data, an analysis of the implications of the different levels of ambition as a motor for modernising the EU economy and creating new jobs by promoting innovation in low-carbon technologies is provided. This analysis encompasses the efforts required in the main different sectors to reduce greenhouse gas emissions beyond 20%, up to 30%, [...]
