Bloomberg: EU energy efficiency plan may double pace of carbon reductions
Greenhouse-gas discharges in the European Union’s emissions-trading system could drop as much as 43 percent by 2020 if the EU meets its energy-efficiency and renewable-energy targets, according to a climate study today.
The pace of reducing emissions in the European cap-and- trade program, known as the ETS, could double compared with the current goal of a 21-percent cut from 2005 levels should the EU increase the use of renewable energy and improve energy efficiency by 20 percent, consultancies Ecofys and Climate Strategies said in a report published in Brussels.
“The cap of the emissions trading system will need to be adjusted if energy efficiency and renewables targets are to be met,” Niklas Hoehne, director for energy and climate policy at Ecofys, said in an e-mailed statement.
The study showed “there would be a reduction of 29 percent to 43 percent below the 2005 level” in the ETS as a result of the energy efficiency and renewable goals.
The EU cap-and-trade imposes pollution limits on more than 11,000 utilities and manufacturing companies, including Royal Dutch Shell Plc, Europe’s largest oil company; ThyssenKrupp, Germany’s biggest steelmaker; and Electricite de France SA, Europe’s No. 1 power generator.
The program is the cornerstone of the EU plan to fight climate change and meet its internal commitment to cut overall emissions by 20 percent by 2020 compared with 1990 levels. While the bloc is on track to meet the binding emission-reduction goal and the renewables target, it lags behind on political pledges to boost energy efficiency.
“Implemented policies are not yet sufficient to meet the energy efficiency target, despite the cost effective potential,” according to the report.
The 27-nation EU has said it’s ready to deepen the headline emissions-reduction target to 30 percent if other nations show comparable efforts.
“The full implementation of the energy efficiency and the renewables target would lead to an emission level in 2020 which is significantly lower than 20 percent below 1990,” the report published in Brussels said. “The results of this study suggest a reduction of up to 30 percent.”
The European Commission, the EU executive arm, said in an analysis earlier this year the bloc may cut greenhouse gases 25 percent domestically by 2020 compared with 1990, as long as it steps up energy-saving measures.
To contact the reporters on this story: Ewa Krukowska in Brussels This e-mail address is being protected from spambots. You need JavaScript enabled to view it ;
To contact the editor responsible for this story: Stephen Voss at This e-mail address is being protected from spambots. You need JavaScript enabled to view it
