02/07/2012

EU emission cuts could be upped to 30 percent

According to the Commission, cutting CO2 emissions could be less demanding than expected if costs were to be equally shared.

Rising emission cuts from 20 to 30 percent could be less costly than expected and, according to a draft report issued by the European Commission, the effort could be equally shared among Member States.

Indeed, European electricity companies keep lowering their CO2 emissions, and in particular Enel is the Group that has been most successful in abating its carbon dioxide emissions in 2010. According to "Facteur Carbone 2011", a report drawn up by PricewaterhouseCoopers (PwC) and Enerpresse, in 2010 Enel saved 8.9 million tones of CO2 compared to 2009, thus cutting its emissions by 15.3%.

European Union nations are presently committed to the binding target of cutting emissions by 20 percent below 1990 levels, but due to the positive trend registered by European companies the Commission has examined the possibility of switching to a 30 percent cut.

This target, whose achievement would cost approximately 33 billion euros, would require a change in the Emission Trading Scheme (ETS), specifically in the way Emission Certificates are granted to Member States.

The study conducted by the Commission suggests that there should be a limited sale of Emission Certificates in wealthier countries, while the amount of certificates granted to new Member States and to nations most affected by the crisis could remain unaltered.

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