26 Apr '12, 10am

'More aggressive carbon reduction goals in Europe are affordable': Bloomberg New Energy Finance

Raising Europe’s carbon reduction target for 2020 from 20% to 30% will cost EU countries under 0.04% of GDP, with some member states getting a net benefit London, 26 April 2012. The European Union could be much more ambitious about reducing carbon dioxide emissions between now and 2020 with minimal economic costs, according to research published today by leading analysis company Bloomberg New Energy Finance. The cost would be no more than the equivalent of a few cups of coffee per person per year. The research was undertaken to determine whether raising the EU’s target for CO2 reductions to 30% by 2020, as advocated by some member states, would be damaging to the European economy at a time when it is struggling to emerge from recession. Current EU policy is to achieve a 20% reduction in greenhouse gas emissions from 1990 levels by 2020. Guy Turner, head of carbon and power...

Full article: http://www.bnef.com/PressReleases/view/214

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