Bloomberg New Energy Finance launched its new report yesterday in Brussels, analysing the costs of moving toward a 30% GHG cuts in the EU. The report lays out a number of different possible cost scenarios if the EU moved beyond the current 20% climate target. Unfortunately the report is far from thorough and falls short of presenting an adequate picture of the true costs and benefits. CAN-Europe notes for example that the Bloomberg report does not analyse the health or social benefits of enhanced climate action, such as improved air quality or a boost to the job market, which would of course have a direct effect on costs.
Last week EU Climate Commissioner Connie Hedegaard announced a review of the Emissions Trading Scheme (ETS) by the end of this year. It may result in a limit to the number of allowances available and an end to historically low carbon prices in the next ETS trading period (2013-2020). CAN Europe cautiously welcomes this news, but only if it results in a proposal that will be ambitious, and not simply a reshuffle of the total allowances available each year between now and 2020.
A veto is an act of desperation, but it carries weight if used wisely. The more you use it, the more meaningless it becomes. The Polish media is already speculating about the prospect of a third Polish veto, if the Low-Carbon Roadmap is on the agenda of the June Energy Council. By stubbornly rejecting the EU’s shared vision to move towards a green energy future, Poland is ultimately vetoing modernisation of its own economy and further isolating itself. Meanwhile the EU’s climate agenda remains very much alive, and is strongly supported by the other 26 Member States. This support was bolstered by the European Parliament’s endorsement of the ‘Low Carbon Roadmap’ on the 15 March.
CAN Europe and Friends of the Earth Europe, assisted by Energy Savings Man, paid a visit to MEPs in the European Parliament yesterday. The mission? To remind MEPs on the Energy Committee (ITRE) to ‘be an energy hero’ and support binding 20% energy savings targets, annual 1.5% savings obligation for energy companies and deep renovation of buildings.
In 2012 Nine countries put their weight strongly behind the Financial Transaction Tax (FTT) calling for the Danish Presidency to accelerate with analysis and the negotiation process even if there isn’t a Europe-wide agreement. This comes as a welcome development and shows that France, Germany, Belgium, Spain, Finland, Greece, Spain, Portugal and Italy are ready to put their money where their mouths are.
On April 21st 2010 the European Commission released a communication entitled "A twelve-point EU action plan in support of the Millennium Development Goals."
Climate change is a global challenge as emissions anywhere affect people everywhere. To respond to the climate crisis a rapid decarbonisation of our economies across the world is required. This is why internationally coordinated cooperation is needed. This is done under the United Nations Framework Convention on Climate Change, the UNFCCC.