| Long regarded as one of the leading actors in the fight against climate change, the European Union recently revealed its newest targets for European climate change policy. By 2030, the EU aims to reduce its greenhouse gas emissions to 40 percent of their 1990 levels, increase the share of energy consumption from renewables to 27 percent, and increase energy efficiency by at least 27 percent.
In addition to these targets, the EU also resolved to increase the interconnectivity of Europe’s energy markets and reform the Emissions Trading Scheme, a cap-and-trade mechanism that notoriously failed early on when too many emissions allowances were distributed and the price fell to virtually nothing. These are all worthy goals and, despite criticism, are among the most ambitious targets being pursued anywhere in the world...............................................Full Article: Source |