P. 1
The Fifth Global Environment Outlook (GEO-5)

The Fifth Global Environment Outlook (GEO-5)

|Views: 755|Likes:

More info:

Published by: United Nations Environment Programme on Jun 07, 2012
Copyright:Attribution Non-commercial


Read on Scribd mobile: iPhone, iPad and Android.
This book can be read on up to 6 mobile devices.
download as PDF, TXT or read online from Scribd
See more
See less






A recent report by the EU calls for the total elimination of fossil-fuel-
powered cars in cities by the year 2050. © Robert Bremec/iStock

Part 2: Policy Options


Large-scale reductions of greenhouse gas emissions can only be
achieved, however, through a tightly coordinated and coherent
combination of diferent policies targeting diferent economic

sectors and sources of emissions. Only then can efcient
synergies be achieved.

In 2009, the EU formally adopted its climate and energy package,
an integrated approach with binding legislation to implement the
EU’s three main climate and energy targets:

• reduce EU greenhouse gas emissions to 20 per cent below

1990 levels by 2020;

• reduce EU energy consumption by 20 per cent compared with

projected levels by 2020 through increased energy efciency;

• meet 20 per cent of EU energy needs from renewable sources,

including biofuels, by 2020 (EC 2009a).

These commitments together have been labelled the 20-20-20
targets, which are being implemented through an array of
policies ranging from carbon taxes and emissions trading
schemes to local voluntary eforts by municipalities (EC 2009b).
Two of the most promising policies are discussed below.

European Emissions Trading System

The EU Emissions Trading System (EU ETS) was launched in
2005 as a cornerstone of EU climate policy and the key tool for
reducing industrial greenhouse gas emissions in a cost-efective
manner. It is the first and largest international scheme for trading
emission allowances, and is open to non-EU countries on the
condition that they meet the strict standards of the EU ETS.

The EU ETS covers about 40 per cent of EU greenhouse gas
emissions. For 2009, the EU carbon trading market was estimated
to be worth nearly US$118.5 billion per year, compared to a

You're Reading a Free Preview

/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->