European Parliament: towards a low carbon economy
"To reach these targets at lower costs and with higher probability, we recommend a twofold strategy," says Klingenfeld. "The European emissions trading system should be expanded as soon as possible to all economic sectors" - up till now, for instance, CO2 emissions of the transport sector have been excluded." Also, technology policy for renewable energy in the various EU member states ought to be harmonised step by step." Global climate change mitigation is affordable, he argues. However, it is crucial to act in a fast and comprehensive way. "As long as others are still tiptoeing, Europe can benefit from taking significant steps forward," says Klingenfeld. Being a pioneer might in fact result in technological leadership.
The European Union has set targets for reducing its emissions by 20 percent, increasing the share of renewables in the energy mix to 20 percent, and improving energy efficiency. Regarding emissions, Europe is on track, officials say. The "Roadmap for moving to a competitive low-carbon economy in 2050" is intended to show pathways towards further targets - namely an emissions reduction of 80-95 percent.