European Union Agree Landmark CO2 Cut

The European Union have made huge steps to reduce CO2 emissions across Europe by setting ambitious but achievable targets. This is in response to the United Nations report published in April 2014 which stated clearly that the world must rapidly move away from carbon-intensive fuels in order to curb climate change.The landmark deal means that the EU have agreed to cut greenhouse gas emissions by 40% by 2030, compared with 1990 levels.

The EU Commissioner for Climate Action, Connie Hedegaard, said she was “very proud” that the leaders “were able to get their act together on this pressing climate challenge”. Ed Davey, the UK’s Energy Secretary, described the deal as “a historic moment”.

“Europe has sent a clear and firm message to the world that ambitious climate action is needed now,” Mr Davey said.

“This morning only five countries in Europe had climate targets post 2020, now 28 countries do.

“It’s good for consumers because we can decarbonise at the lowest possible cost using a diverse mix of technologies. And it’s good for business as it provides the certainty they have been calling for to unlock billions in low carbon investment.”

The EU is already on target to cut its CO2 emissions by 20% by 2020, compared with 1990 emission levels.

EU officials earlier said they wanted the EU to have an “ambitious position” in the run up to the UN climate change conference in Paris in December 2015.

By stark contrast the Australian Government are proposing to actually reduce the Renewable Energy Target. The impact of this will significantly reduce investment in renewable energy causing 1,000 of job losses and continued damage to the environment, and this despite the fact that Australia is one of the world’s worst greenhouse gas emitters per capita, due to its heavy reliance on the nation’s vast reserves of cheap coal for electricity.

Who will actually benefit from a RET reduction? Not surprisingly the answer is the coal & gas power companies who stand to make billions as a result of a weakened RET.

And the losers? Consumers and small businesses with increased power bills, reduced investment will cause massive job losses in the sector and of course an additional 150 million tonnes of carbon pollution will be spewed into the atmosphere.

The Climate Change Institute August 2014 Report can be found here-:

Click here to read the CCI Report “Who Really benefits from A Reduced RET”?


October 27, 2014Permalink

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