Brussels, 30/01/2012 (Agence Europe) - Cranking up the level of the EU's climate ambitions, by raising the target of a 20% reduction in CO2 emissions by 2020 to 30%, brings with it not inconsiderable advantages both financial and in terms of public health and protection of the environment, according to the European Commission. That, at least, is what comes out of a working paper which it published on 30 January on analysis of options for greenhouse gas emission reductions of more than 20% - the unilateral target set by the EU and the one to which it has until now committed itself in international climate talks.
The paper says that the 20% emissions reduction target is now less costly in monetary terms that was assumed in 2008 and that the 30% reduction scenario has similarly become less expensive. According to estimates, a 25% reduction in emissions by 2020 would cost around €70 billion. This figure estimates the direct net impact on energy consumers but does not take into account the indirect economic benefits of faster technology innovations, increased energy security and reduced air pollution. The document argues, too, that in moving from a 20% to a 25% target, the EU would save an average of €20 billion per year in fuel costs over the period from 2016 to 2020 (including €9 billion from reduced oil and gas imports), that it would save €2.7 billion per year on air pollution control costs and that health benefits would amount to between €3.4 and €7.9 billion, due to reduced mortality. This keenly awaited working paper comes in response to the request from the Environment Council of 14 October 2010. It has been welcomed by environmental and health NGOs. (AN/transl.rt)