Europe Claims Climate Gains With Its Emissions Trade …
- June 22nd, 2010
- Posted by EUEditor
The European Union says the Emissions Trading Scheme being used to pursue its “20-20” objective on climate change has brought some results in the last year under review.
It has also stepped-up cooperation with developing countries threatened by effects of climate change.
BUSINESSES MAKE 11.6% CUTS
A report from the European Commission says emissions of greenhouse gases from EU businesses participating in the EU Emissions Trading System fell 11.6 % in 2009 compared with 2008.
“Due to the crisis the significant drop in emissions does not come as a surprise”, said theClimate Action Commissioner Connie Hedegaard.
“The EU has a functioning trading system driving emission reductions even during a recession.
“We should not hide that the recession has significantly weakened the price signal.
“The carbon market can and should be a stronger driver for low-carbon investments, and we must also realise that because of the crisis it suddenly became easier to reduce emissions and that is good.”
The European Commission report says verified emissions of greenhouse gases from all installations in the EU ETS in 2009 totalled 1.873-billion tonnes of CO2-equivalent.
The EU plan is to cut total emissions by 20% by 2020; and to date its Environment Agency says that the European Union has achieved a drop in gas emissions for five years in a row.
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THREATS FROM THE SEA AND AIR
A new agreement has been signed between the European Commission and three partner countries deemed to be among the most likely to feel major impacts from climate change — on helping them to deal with it.
The signing ended a two-day conference in the Bangladesh capital, Dhaka, with Cambodia and the Maldives the other signatories.
An EC statement says the world’s least developed countries and small island developing states – more than 70 countries – are likely to be hit the hardest by rising tides and temperatures.
In 2007 the EU launched the Global Climate Change Alliance (GCCA), for strengthening cooperation and dialogue, on adapting to climate change and reducing greenhouse gas emissions.
It also commits the EU to funding concrete initiatives, and in Bangladesh that will mean support for food security, disaster management, infrastructure development, research, flood mitigation and capacity building, among other areas.
Cambodia is to be assisted with improving coordination of its climate change activities, and the Maldives will invest in energy efficiency and renewable energy.
Other Asian least developed countries may become signatories to the process at a later date.
Reference
European Commission, “Helping the most vulnerable cope with climate change”, 1.6.10. EU Delegation – Australia. www.delaus.ec.europa.eu/, (22.6.10).
European Commission, Brussels, “Environment – Emissions Trading Scheme”, 12.5.10. http://ec.europa.eu/environment/ets/, (21.6.10).
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Bangladesh, subject to severe climate events and flooding, ec