EU CLIMATE ACTION: A CASE FOR EU ETS BACKLOADING EUROPEAN PARLIAMENT 11 APRIL 2013 Wendel Trio

1. EU CLIMATE ACTION: A CASE FOR EU ETS BACKLOADING EUROPEAN PARLIAMENT 11 APRIL 2013 Wendel Trio Climate Action Network Europe

3. CLIMATE CHANGE IMPACTS • 400.000 deaths each year due to hunger and communicable diseases aggravated by climate change • Failure to act already costs the world economy 1.6% of global GDP, amounting to 1.2 trillion US Dollars of forgone prosperity each year (Climate Vulnerability Monitor)

4. Economic impacts • Unless we take action on climate change, future generations will be roasted, toasted, fried and grilled - Christine Lagarde, Managing Director International Monetary Fund • Climate change is a fundamental threat to global economic development. The latest predictions should shock us into action - Jim Yong Kim, President of The World Bank • I got it wrong on climate change: it's far far worse - Nicholas Stern, London School of Economics and author of the Review on the Economics of Climate Change

5. EU CLIMATE ACTION • UNEP: enormous emissions gap up to 2020, countries, including EU, are not doing enough • EU needs to decarbonize by mid-century • Need to go to upper end of 80-95% pledge • Current ETS only brings us to 70%

10. Thank You