Climate change policy (November 2008)

2. Committed to an EU reduction of 20% of
greenhouse gases (GHG) emissions by
2020 (with respect to 1990 levels)
Established a goal of 20% renewable
energy in the EU by 2020
Reinforced the EU’s commitment to
continued leadership in the climate change
issue, including the transatlantic energy
dialogue and the G8

3. Package proposes the detail to deliver EU leaders 20 / 20 vision
•
Action in five areas proposed:
•
Effort sharing for reduction in GHG;
Promotion of renewable energy;
Revision of the ETS;
Proposals to stimulate carbon capture and storage; and
New state aid rules.
20 / 20 goals are for EU as a whole, Member States have individual targets
•
for reducing GHG and increasing use of renewable energy

4. Energy and Climate change package at the top
•
of the priorities of the French Presidency
Commission, European Parliament and Council
•
aim to reach a conclusion by the end of 2008
This would allow reaching an international
•
(30%) agreement by the Copenhagen
Conference on post-Kyoto (Dec. 09)

5. Some governments ask for revision of their national targets
•
Bulgaria, Estonia, Latvia, Lithuania, Romania, Slovakia and Hungary
•
propose a uniform 18% reduction of emissions for all member
countries.
The reference year for the calculation of national targets (1990
•
or 2005) is controversial.

6. Parliament and Member States remain divided on various
issues such as:
• Allocation of revenues from carbon permit auctions
• Full auctioning for electricity generation in 2013
• Allocation of free allowances for energy-intensive sectors subject to
carbon leakage
• Setting-up of a border tax adjustment