EU plans to cut greenhouse emissions further is technically and economically possible
A European Union plan to cut greenhouse gas emissions to 55% below 1990 levels by 2030 is technically and economically possible, according to researchers from German-based think tank Agora Energiewende.
In September, the European Commission is expected to propose a tougher EU climate goal for 2030, to steer the bloc towards its flagship target of net zero emissions by 2050, down from the nearly 4 billion tonnes of carbon dioxide equivalent it currently emits annually. The Commission will propose a 50% or a 55% emissions reduction for 2030 – up from an existing 40% goal. It would set the stage for planned EU reforms on tax, energy policy and the carbon market next year.
In analysis published this week, Agora Energiewende and the German research centre Oeko Institut lay out how the EU could revamp its climate policies to deliver the goal. The EU carbon market, which covers emissions from power plants, industry and European flights, has the greatest potential to cut emissions quickly.