27 Oct '14, 2pm

EU Leaders Agree To Tough Carbon Regulations to Spur Renewable Energy Development and Fight

EU Leaders Agree To Tough Carbon Regulations to Spur Renewable Energy Development and Fight

Heads of government from the bloc’s 28 nations endorsed a binding target to cut greenhouse gases by at least 40 percent from 1990 levels by 2030 at a summit in Brussels. Meeting that goal would cost about 38 billion euros ($48 billion) a year, according to EU estimates. The EU is on track to meet its previous goal of a 20 percent reduction by 2020. “That sends a strong signal to the international community and I hope that the signal is being received today in Washington, in Beijing and other big economies so that they will prepare their ambitions accordingly,” EU Climate Commissioner Connie Hedegaard said in an interview. “Now investors, businesses, everyone will know that this is where we are headed — these are the targets.” The agreement on emissions ensures the EU remains the leader in the fight against global warming before the United Nations climate summit in Lima in ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2014...

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