Climate and Energy: Where do we stand ?

Peter Vis  Chef de Cabinet of Connie Hedegaard, European Commissioner for Climate Action

The subject of Peter Vis’ presentation was EU Energy and Climate package that was  considered by The European Council  at its spring meeting on 20-21 March 2014.

The Commission’s proposal came out earlier in the year  with key announcements around the overall GHG target, renewables, and EU ETS reform:

• 2030 GHG target: 40% below 1990 levels, met through domestic measures alone (i.e. without offset credits). This would be the EU’s international offer for a global deal in Paris 2015.  The Commission are not proposing a higher conditional target in the light of a global deal, but have left open the possibility of raising ambition in the light of other countries’ contributions.
• An EU-wide binding renewable energy target of at least 27% in 2030.  But no binding national level commitments, so not clear how this would be enforced or delivered.
• EU ETS reform: The Commission has published a legislative proposal for a “market stability reserve”. This would be a rule-based system starting in 2021, with the aim of limiting build-up of surplus allowances and allowing adjustment in supply in response to economic shocks.

The European Parliament   voted that this should be strengthened, in particular that there should be a binding renewable energy target of 30%, down to member state level (strongly opposed by UK) and an energy efficiency target of 40% improvement.