Energy for a changing world

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Presentation transcript:

Energy for a changing world &file 04/06/2018 Limiting Global Climate Change to 2 °Celsius The way ahead for 2020 and beyond Jos Delbeke DG ENV Director Climate Change & Air

Key Objectives Climate Change and Energy Package &file 04/06/2018 Key Objectives Climate Change and Energy Package Meeting the 2°C objective (Top down): EU: In the international negotiations set forward the GHG reduction target of 30 % by 2020 for developed countries (compared to 1990 levels). EU: A firm independent commitment to achieve at least 20% GHG emission reductions by 2020 (compared to 1990) Tools (Bottom up): “An Energy Policy for Europe” GHG policies including Emissions trading Global carbon market

Key Objectives Climate Change and Energy Package &file 04/06/2018 Key Objectives Climate Change and Energy Package An Energy Policy for Europe: New steps to reach internal market - options for unbundling and regulatory powers: important for functioning EU ETS decrease hurdles for renewables Renewable Energy 20% mandatory objective by 2020 differentiation of targets necessary between countries flexibility in target setting within a country between sectors Includes biofuels target of 10% by 2020 Nuclear: member states’ choice Sustainable power generation from fossil fuels: aiming at near-zero emissions by 2020 Towards a European strategic energy technology plan

Global Participation The 2C objective: &file 04/06/2018 Global Participation The 2C objective: Global GHG emissions need to peak around 2020 EU & Developed countries: 30% GHG emission reduction target by 2020, compared to 1990 levels Developing countries: Reduced growth asap, absolute reductions after 2020 Deforestation: halt within two decades and then reverse

&file 04/06/2018 Global carbon market Firm independent target defines floor in EU ambition level = long term signal for investors in the Emission Trading System Review EU ETS and link it to compatible systems Global emissions peak around 2020: global carbon market decreases investment costs with a factor 3. Proposals to increase market signals in developing countries: Improved CDM & no-loose targets Sectoral approaches Improved access to financing (e.g. Global Energy Efficiency and Renewable Energy Fund) INVESTMENT COST GLOBAL GDP

&file 04/06/2018 Sound Economics “Winning the Battle” & Stern Review: benefits of limiting Climate Change outweigh costs of action Costs of inaction: 5-20% of global GDP (Stern Review) Costs of action for the EU (2030): -30% target with global participation: -0,19% annualised GDP -20% independent target: -0,02% to -0,09% annualised GDP Does not include Co-benefits: Increased energy security Improved competitiveness through innovation Health benefits from reduced air pollution Limits on climate change

More information on the package &file 04/06/2018 More information on the package Climate change http://ec.europa.eu/environment/climat/future_action.htm Energy: http://ec.europa.eu/energy/energy_policy/index_en.htm