The European Climate Change Programme Seminar of Governmental Experts, 16-17 May 2005, Bonn A presentation on behalf of the EU Artur Runge-Metzger European Commission
The EU’s Challenge: EU-15 projected progress towards Kyoto Commitments &file 05/07/2018 The EU’s Challenge: EU-15 projected progress towards Kyoto Commitments
The EU’s Response: European Climate Change Programme (ECCP) &file 05/07/2018 The EU’s Response: European Climate Change Programme (ECCP) Objective Identify and develop cost effective elements of EC strategy to meet the EU’s Kyoto target in cooperation with stakeholders Major Milestones Launch March 2000; October 2001: EC commitment on concrete Action Plan supplementary to Member States’ efforts 2004: new legislation largely put in place, wide policy mix New phase in 2005 (e.g. review, energy efficiency, aviation, CCS, adaptation) Major Achievements EU Measures currently “in implementation”: potential of 350-430 Mt CO2eq./year (equals Kyoto target for EU-15)
EU Emissions Trading: operational since 1st January 2005 &file 05/07/2018 EU Emissions Trading: operational since 1st January 2005 a new, market based instrument, covering close to 50% of EU-25 CO2 emissions – the largest ever implemented taps on the market dynamics and innovation capacity of the industrial sectors, reduces Kyoto compliance cost covers major energy intensive industries, in total 12000 installations approximately 2 billion allowances per year (2005-2007) total value of allowances: 32 billion € at current prices linking with JI/CDM: direct access of credits to EU ETS linking with other domestic schemes enabled through current regulatory framework
EU Emissions Trading: Price & Traded Volumes in the EU ETS Source: Point Carbon's Carbon Market Daily
More information on EU climate change policy http://europa.eu.int/comm/environment/climat/home_en.htm