Childers welcomes draft EU plan to cut CO2 emissions by 30%

Posted by Bronwen Maher on May 04, 2010 at 02:11 PM

Speaking today in Brussels today on unreleased draft documents of the European Commission, Labour MEP Nessa Childers said: "I welcome the news that the Commission plans a binding proposal for Europe to move unilaterally from a 20% emissions cut target to 30%. The economic slump has cut the cost of meeting the EU's current 2020 target by nearly a third, making a move to a 30% cut now affordable.

"The Commission has also recognised that the potential of the EU's flagship climate instrument, the emissions trading scheme, to spur low-carbon investment has been severely affected for a long time. It argues that to deliver an allowance price of €30 per tonne of CO2 as originally planned would require such a move to 30%. Moving to a 30% reduction target would require adjustments both within the EU ETS and in sectors outside of it, such as agriculture and transport.

"However, EU leaders must push for significant improvements of the recently announced Europe 2020 Strategy if it is to really lead towards a truly sustainable and successful economy. It is simply not ambitious enough as regards emissions targets, biodiversity and green jobs.

"Such a move to a 30% target would not only help negotiations ahead of the next meeting in Mexico but such ambition would also help transform the European economy, providing new opportunities for green-tech businesses and creating thousands of green, sustainable jobs as we move to a low-carbon future. A target of 30% is now warranted, viable and achievable.

"The goalposts have shifted somewhat as the recession has led to a significant fall in global emissions since the EU’s position of 20% was first drawn up in 2007. Much of the reductions claimed today by European business were actually a result of offsetting via the Kyoto Protocol's Clean Development Mechanism and are not domestic reductions.

“The European Emissions Trading System has also been a great disappointment thus far, not driving the reduction in emissions we need. The carbon price is simply too low and many large companies have actually made huge windfall profits from it. We need a higher European target emissions cut target now.

“There is a clear economic win-win involved in pursuing higher targets. I urge European leaders to show far more ambition, to integrate the economic and environmental agendas and again start to lead on this issue.”

Permanent link | Comments (0) |