2015年-CEPS欧洲政策研究中心_EU_Policy_on_Climate_Change_Mitigation_since_Copenhagen_and_the_Economic_Crisis_18页_398kb

Summary of EU Policy on Climate Change Mitigation since Copenhagen and the Economic Crisis

Core Content

This document provides an analysis of the EU's climate change mitigation policies in the context of the 2009 Copenhagen climate summit and the subsequent economic crisis. It outlines the EU's domestic and international climate strategies, highlighting the evolution of the EU Emissions Trading System (EU ETS) and the challenges faced in maintaining a high level of ambition in climate policy.

Main Points

1. EU's Climate and Energy Policy

• The EU has long been a leader in climate change mitigation, setting a long-term target of limiting global temperature increase to 2°C above pre-industrial levels.
• In the run-up to Copenhagen, the EU introduced the 'climate and energy package', which includes:
  • A 30% absolute emissions reduction by 2020 (conditional on a global agreement).
  • A 20% renewable energy target in primary energy consumption by 2020.
  • A 10% renewable share in transport by 2020.
  • A 20% reduction in primary energy consumption by 2020.
  • A commitment to carbon capture and storage (CCS) technology.

2. The EU Emissions Trading System (EU ETS)

• The EU ETS, launched in 2005, is the core of EU climate policy.
• It was initially protected from global carbon markets due to concerns over compliance and the need for a legally binding framework.
• The revised ETS Directive (2013) introduced:
  • A single EU-wide cap decreasing annually by 1.74%.
  • Harmonised allocation rules, with power companies auctioning allowances starting in 2013.
  • Free allocation for industries exposed to non-EU competition.
  • Restrictions on CDM/JI credits to ensure emission reductions occur within the EU.
  • Extension to new sectors such as aviation, chemicals, and aluminium, as well as other GHGs like nitrous oxide and perfluorocarbons.

3. Impact of the Economic Crisis

• The economic crisis significantly affected the EU ETS, leading to low EUA prices and diminished confidence in the system's ability to drive decarbonisation.
• The 20% emissions reduction target is seen as insufficient to meet the EU's long-term goals and global climate targets.
• The lack of ambition undermines the EU's influence in international negotiations and its ability to secure funding for climate action in developing countries.

4. Challenges to Ambition

• Competitiveness concerns have led to free allocation of allowances, which may discourage more stringent emissions reductions.
• There is a cleavage between old and new member states due to differences in economic development, energy mix, and energy efficiency.
• New member states have lower GDP per capita and higher reliance on coal, making it difficult to achieve ambitious climate goals without economic support.

5. Pathways to Raise Ambition

• The EU is exploring several avenues to raise the ambition level of its climate policy, including:
  • Aviation and maritime emissions regulation.
  • Carbon border measures to prevent carbon leakage.
  • Climate and Clean Air Coalition to address short-lived climate pollutants.
  • Green growth initiatives to promote sustainable economic development.
  • Reducing emissions from deforestation through international cooperation.
  • Technology transfer and innovation to support low-carbon transitions.

Key Implications

1. Getting Its House in Order

• The EU must address internal imbalances in the ETS by implementing measures like back-loading of allowances.
• Structural reforms are necessary to ensure the long-term viability of the ETS and to support decarbonisation efforts.
• The process is time-consuming and involves political consensus across member states.

2. Declining Global Emissions Share

• The EU's global emissions share is falling rapidly, from around 13% to 10% by 2020.
• This trend highlights the need for the EU to increase its domestic efforts and engage more effectively with emerging economies.

3. Industrial Competitiveness

• Industrial competitiveness is a major concern, especially with the economic crisis and lack of global agreement.
• Free allocation and carbon crediting mechanisms are used to mitigate competitiveness risks.
• Innovation and policy support are critical to enable industries to transition to a low-carbon economy.

Building a Global Carbon Market

• The EU aims to establish a global carbon market to drive emissions reductions and support climate finance.
• The EU ETS plays a central role in this effort, as it constitutes 80% of the global carbon market.
• International cooperation is essential, with mechanisms like REDD+, NAMA, and bilateral offset credits being explored.

Conclusion

• The Copenhagen summit and economic crisis have forced the EU to rethink its climate strategy.
• The EU's ambition level is below what is needed to meet global climate goals.
• Domestic and international cooperation are necessary to reinforce the EU's leadership in climate change mitigation.