Economy
EU calls for 60% emission cut by 2050
The European Union has said it wants to see a legally binding emissions cut of 60% by mid-century and reviews every five years agreed at the UN climate summit in Paris later this year, according to a leaked document.
The treaty set to be agreed in Paris will replace the Kyoto Protocol and aims to avoid dangerous levels of climate change. The leaked document has been published ahead of the European Commission publishing a blueprint for tackling climate change on Wednesday.
The paper states, “Major economies, in particular the EU, China and the US, should show political leadership by joining the Protocol as early as possible. It should enter into force as soon as counties with a share of 80% of current emissions have ratified it.
“Under the new Protocol, climate finance, technology development and transfer, and capacity building promote universal participation and facilitate the efficient and effective implementation of strategies to reduce emissions and to adapt to the adverse effect of climate change.”
It adds that, in line with science, commitments made should put the world on track to reduce global emissions by at least 60% by 2050, from a 2010 baseline. If there is “a gap in the level of ambition in Paris” a work programme should start in 2016 to indentify additional action to reduce emissions, the draft continues.
The EU also proposes that the 2015 agreement should be preferably in the form of a Protocol under the UN Framework Convention on Climate Change, making the agreement legally binding. Furthermore, the bloc wants a global review to be conducted every five years to ensure “strengthening of the ambition of these mitigation targets consistent with the latest science”.
Last year, the European Commission voted to cut carbon emissions by 40% by 2030 and set a minimum EU-wide target for renewable energy of 27%. However, the vice-chair of the Intergovernmental Panel on Climate Change (IPCC) Professor Jim Skea said the target does not go far enough.
Photo: hisks by Freeimages
Further reading:
Business leaders call for stability reserve in EU Emissions Trading Scheme
EU agrees on 40% emission cut climate target
EU agrees on 40% emissions cut and 27% renewables targets
Europe 2030 emission targets need to go further, says IPCC vice-chair
Business lobby urges European leaders to set ambitious climate change targets
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