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Climate and energy transition

Climate and energy - 24.01.2008

EU Commission unveils climate change, energy package
The European Commission published a package of proposals that aims to tackle climate change and promote the use of renewable energy, on 23 January 2008.
The main proposals are as follows:

Emissions Trading scheme (ETS): extend this to include more greenhouse gases (currently it covers only CO2) and to all major emitters of greenhouse gases (including air traffic). Emissions allowances would be put on the market and their number reduced annually. They would be European rather than national allocations.

Renewing renewable forms of energy: Renewable energy currently accounts for 8.5% of final EU energy consumption. That means an increase of 11.5% to meet the 20% target.

Biofuels: the aim is to have 10% of Europe's transport sector powered by bio-fuels by 2020.

Carbon capture and storage: (storing carbon underground rather releasing it) the Commission plans a legal framework and guidelines for state aid.
If no measures are taken, the world's energy needs will be well over 50% higher in 2030 than today, said the President of the European Commission, José Manuel Barroso.
The European Commission estimates that acting now will limit the inevitable cost of curbing climate change to well below 1% of GDP, as opposed to the 5-20% needed if no action is taken. This works out at roughly 150 euros per person each year until 2020.
It is hoped that this proposed package will be adopted by the end of 2008.
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