The main points highlighted in the article “EU Set to Discuss CO2 Goal After China , India
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- In early 2012 the European Union will resume talks about moving to a stricter carbon goal after countries worldwide backed its plan to start work toward a climate treaty that would be enacted by 2020.
- The 27-nation bloc, with target of reducing GHG emissions by 20 % below 1990 levels by 2020 and option of increasing the target to 30 % if other countries follow suit, is due to submit its new Kyoto goal by May 1, 2012.
- Discussion regarding future stringency of the EU climate- protection policies may also get new impetus after
- The price of carbon dioxide in the EU emissions market, the world’s largest has plunged 46 % this year amid speculation that the euro-area debt crisis may worsen and concerns that oversupply of permits may increase following the introduction of new energy-efficiency legislation.
- Enhancing energy savings would enable the bloc to exceed its 20 % carbon-cut goal, and reduce greenhouse gases by 25 % domestically by 2020.
- The European cap-and-trade program covers about 50 % of the region’s emissions and was valued at 120 billion euros ($160 billion) last year.
- The European pledge to extend the Kyoto Protocol targets will create a bridging mechanism for the period between the time when current goals expire and the new legally binding agreement comes into force.
- The end-date for the 2nd commitment period of Kyoto Protocol will be decided next year although two options of 2017 and 2020 are under consideration.
- The EU agreed to extend its
Posted By:
Ramesh Kumar Jalan, Ph.D.
Resource Person & Moderator
Climate Change Community, Solution Exchange,
United Nations Development Programme
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