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EU climate change deal

Hydrocarbon Engineering,


The UK Department of Energy and Climate Change (DECC) has said that the EU has reached a historic deal to cut GHG by at least 40% domestically by 2030. The target is part of a package of measures to make Europe’s energy system more secure, sustainable and competitive, announced by European leaders at the European Council meeting in Brussels on October 24. DECC has said that this agreement is a major win for the UK, which has been leading efforts in Europe for an ambitious but flexible deal that cuts carbon emissions whilst giving the UK and other EU member states the flexibility to decide how they will decarbonise at least cost to consumers, while also improving energy security by reducing the EU’s reliance on imported energy.

The Climate Change Act and Electricity Reform in the UK will put the UK on a clear path to become a low carbon economy. This means these measures, announced in Brussels, will not have any additional cost impact for UK bill and tax players.

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Ed Davey, Energy and Climate Change Secretary, UK said, ‘this is a historic moment. Europe has sent a clear and firm message to the world that ambitious climate action is needed now. True to our word, we have delivered a highly ambitious EU climate target while also significantly strengthening Europe’s energy security by making us less reliant on imported energy. This morning only five countries in Europe had climate targets post 2020, now 28 countries do.

‘The UK has been leading the climate debate pushing for an ambitious deal in Europe and by building alliances and working constructively with our European partners, we’ve agreed a package of measures that meet all the UK’s top priorities.

‘It lays down the gauntlet to the world to come forward with ambitious climate targets, reforms EU energy policy so it’s flexible and affordable and tackles energy security, reducing Europe’s energy import bill for fossil fuels by around 285 billion Euros by 2030.

‘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.

Key package elements

  • A binding domestic EU GHG emission reduction target of at least 40% by 2030.
  • A 27% EU level renewables target and 27% non-binding energy efficiency target that cannot be binding on Member States.
  • Calls for EU ETS to be reformed by including a Market Stability Reserve (MSR) as the UK has been calling for.
  • Extended and expanded EU level support, via an Innovation Fund, for CCS demonstration projects.

Edited from press release by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/24102014/eu-climate-change-deal-2014/


 

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