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Battling global climate change - the EU’s perspective (Part II)

Battling global climate change - the EU’s perspective (Part II). Artur Runge-Metzger European Union. 3. Selected EU policies and actions. The EU’s Kyoto challenge until 2012. Source: European Commission. Sectoral trends (EU): 1990-2004/1990-2010.

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Battling global climate change - the EU’s perspective (Part II)

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  1. Battling global climate change - the EU’s perspective(Part II) Artur Runge-Metzger European Union

  2. 3. Selected EU policies and actions

  3. The EU’s Kyoto challenge until 2012 Source: European Commission

  4. Sectoral trends (EU): 1990-2004/1990-2010

  5. EU climate policies: The ‘broadbrush’ overview

  6. Emissions trading: EU is implementing a company-based scheme since 1.1.2005 • CO2 emissions from energy intensive industry above specific capacity thresholds (45–50 % of EU CO2 emissions) • Around 10,500 installations • electricity generators • heat & steam production • mineral oil refineries • ferrous metals: production & processing • cement, lime glass, bricks and ceramics • pulp & paper sector

  7. Use of Kyoto Mechanisms: Planned purchases by Member States (in addition to company use!) Almost 520 Million tonnes of CO2eq (2008-2012) Allocated resources thus far: € 2.7 billion

  8. Carbon Market is taking off Source: World Bank/ IETA Sept. 2006

  9. “Offsetting” alone cannot solve the climate change problem ... If Annex I alone reduces emissions to zero ... Global emission path compatible with 2°C

  10. Still, the EU will not wait Estimates for full energy saving potential in the EU end-use sectors „Saving 20% by 2020“ results in annual savings of 780 Mt CO2 in 2020 (twice the EUs Kyoto commitment)

  11. The EU will not wait • Proposal to include aviation into the EU ETS (end 2006) • CO2 and cars (end 2006) • Energy package (beginning 2007): renewables, biofuels, clean coal • EU ETS review (mid 2007) • CCS (2nd half 2007)

  12. Complementing carbon finance: The Global Energy Efficiency and Renewable Energy Fund (GEEREF) • Launched in early Oct 2006 • EU initial contribution of € 80 million over 4 years risk capital for local private sector • Mobilise between € 300 million – € 1 billion commercial capital • Potential to complement carbon finance

  13. Work of the AWG • The EU is looking forward to constructively contributing to further work in the AWG • All issues of relevance to the consideration of further commitments for Annex I countries should be analysed • Make best use of time available to ensure that there‘s no gap before next commitment periods

  14. Conclusions • Urgent need for joint global efforts to reduce GHG emissions in all major economies • Build on the Kyoto Protocol – improve as necessary – including deeper reductions by all developed countries – the EU is ready to do its part • All sectors (esp. bunker fuels and deforestation) and more gases should be included • Deploy and develop technologies on a larger scale • Cooperate in adapting to unavoided climate change

  15. More information on EU climate change policy http://europa.eu.int/comm/environment/climat/home_en.htm

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