Cutting carbon emissions to zero in line with the Paris climate accord could require up to €290bn a year in additional investment in Europe, the EU will say as it prepares the ground for a bruising battle at next week’s UN climate talks. Brussels’ new climate strategy road map, to be published on Wednesday, outlines a range of scenarios aimed at reducing carbon emissions and preventing damaging global warming. Together they show the far-reaching changes and huge investments that will be needed for European nations to comply with the Paris deal and cut emissions to net zero by 2050. Lowering carbon emissions to net zero by 2050 is crucial if global warming is to be limited to 1.5C, according to a recent repo rt by the UN Intergovernmental Panel on Climate Change. Signatories to the Paris agreement, including the EU, committed to “pursuing efforts” to restrict temperature increases to 1.5C as part of a plan to limit global warming to well below 2C compared with pre-industrial levels. But the Paris accord also left it open to the signatories which goal they should focus on. As such the road map will be the cornerstone for EU member states as they decide on a formal climate target to submit to the UN in two years’ time as part of the Paris deal.
FT 28th Nov 2018 read more »
Rising energy consumption, particularly in the transport sector, is jeopardising the EU’s ability to meet its climate targets, according to official analysis released this week by the European Environment Agency (EEA). The latest assessment confirms the EU as a whole remains on track to meet its 2020 greenhouse gas emissions targets. But it warns a recent uptick in energy consumption could yet threaten the target and other longer term climate and energy goals if left unchecked.
Business Green 28th Nov 2018 read more »
The European Union’s climate chief on Tuesday called on the bloc to aim for net-zero greenhouse gas emissions by 2050, the most ambitious path in a long-term strategy due to be announced on Wednesday.
Reuters 27th Nov 2018 read more »