Europe sets new carbon targets
The European Union (EU) announced major changes to its Emissions Trading System (ETS) on January 23 as well as individual country targets for renewable energy and for greenhouse gas emissions not covered by the system. The moves are part of the strategy agreed to in March last year of reducing emissions to at least 20% below 1990 levels by 2020, and for 20% of energy consumption across the EU to come from renewable sources by 2020. At that time, the EU also offered to commit to a 30% reduction in greenhouse emissions if other developed countries agreed to join in.
The announcement of the individual country targets follow intense lobbying by national, environmental and industry interest groups. Individual targets for renewables range from 10% for Malta to 49% for Sweden. Today, renewable energy makes up 8.5% of the EU’s final energy consumption. Individual targets for greenhouse gases not covered by the ETS – mainly those resulting from buildings, transport, agriculture and waste – range from –20% for Denmark to +20% for Bulgaria. The aim is to reduce these emissions across the EU to 10% below 2005 levels by 2020.
