EU eyes 30% emission reduction target

The EU deal, one of a raft of climate change measures agreed at a summit in Brussels last month, means that member states must reduce emissions by 20% from 1990 levels. Agreements were also reached on renewable energy and carbon capture technology.

Ed Miliband, the energy and climate change secretary, said: “The rest of the world has been watching, and Europe has delivered a credible and ambitious climate package. It sends a signal that, even in the most challenging of economic times, it’s possible to take bold far-sighted action to slash emissions.

“We will see a massive increase in renewable energy, and pressure from the UK has secured billions in funding for vital carbon capture and storage demonstration plants. Combined with a new spirit of engagement from America, there is now everything to play for as we put the pieces in place for a global climate deal in Copenhagen next December.” The UN’s latest climate change conference will be held in the Danish capital.

The EU leaders also agreed:

• European-wide commitment for 20% of all energy to come from renewable sources by 2020;
• most of the 20% emissions cut to be delivered domestically as a result of renewables and energy efficiency targets and the Emission Trading Scheme (ETS);
• access to international carbon credits to be limited in the ETS to ensure that at least half of the reductions required take place within the EU, while allowing flexibility to invest in low-carbon projects across the globe;
• at least 60% of ETS allowances to be auctioned by 2020 (currently only about 3% are auctioned);
• use of 300 million ETS allowances, worth billions of pounds, to part-fund up to 12 carbon capture and storage demonstration plants;
• a commitment to use half of all auctioning revenues to tackle climate change, within the EU and internationally.