The EU Emissions Trading Scheme (EU ETS) is the world’s largest carbon market, covering more than 11 000 industrial and power plants in the EU-28, as well as in Iceland, Liechtenstein and Norway. The EU ETS covers about 40% of the EU’s greenhouse gas emissions.
On 24th May, the Members of the European Parliament Industry, Research and Energy (ITRE) Committee restated the Parliament’s long-standing call for boosting ambition of the EU 2030 energy savings target to 40%, voting for an own initiative report on the implementation of the Energy Efficiency Directive (EED).
All countries of Southeast Europe are parties to the United Nations Framework Convention on Climate Change (UNFCCC) and have signed up to the Paris Agreement. Becuase they all seek to join the EU well before 2030, their climate pledges should be in line with the EU’s target - currently set to reduce emissions by at least 40% by 2030, compared to 1990 levels.
CAN Europe supports regional NGOs working on promoting the solutions for South East Europe’s energy future: energy efficiency and 100% sustainable renewables. We are part of South East Europe Sustainable Energy Partnership (SEE SEP), a group of 18 NGOs who developed an energy model for 7 countries of Southeast Euope and the region as a whole.
In 2003, at the Thessaloniki Summit, the European leaders committed to help the integration of the remaining Southeast European states into the EU. The promised EU membership is highly conditional – it is only granted if countries meet all economic and political criteria, and align their policies with the EU, including the ones on energy, climate and environment.
The Paris Agreement requires the EU to speed up the ongoing transition away from polluting fossil fuels and towards 100% renewables. The goals of the Agreement to achieve a carbon free economy fast enough to limit temperature rise to 1.5 degree C mean vast new opportunities for jobs and competitiveness, but also some challenges in terms of ensuring the sustainability of the energy systems.
The EU Court of Justice finds that the cap on free allowances might have been set too high by the Commission. Allowances will need to be recalculated in the next 10 months.
At the Paris Agreement signing ceremony last week, the French President François Hollande announced that France will use Financial Transaction Tax (FTT) to increase its support for climate action in developing countries. It is a praiseworthy commitment, but the necessary funds will only be generated, if countries involved in the FTT negotiations work together to finally establish and operationalise it. Final agreement on the FTT is expected in June. Other countries should follow in France’s footsteps and allocate at least half of the revenues to climate and development.
On the basis of an overview of existing scenarios, the Intergovernmental Panel on Climate Change, in 2007, highlighted that in order to keep temperature rise to below 2°C, industrialised countries would need to reduce their emission by 80% to 95% by 2050. The European Member States agreed in 2009 that they would reduce their emission by 80 to 95% by 2050.