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The Low Carbon Economy Ltd

22 Nov 2010 11:11:00

EU should raise emissions reductions target 'to boost investment'



EU should raise emissions reductions target 'to boost investment'
Significant investment could be gained if the European Union (EU) was to move towards a 30 percent carbon reduction target, a new report claims.

Currently, the EU is looking for a 20 percent drop in emissions by the year 2020, although there are those, the UK included, seeking to raise this target.

The new study, compiled by think-tank e3g, suggested that a predicted fall in carbon prices would reduce investment incentive in renewable energy projects.

Increasing the target was said to combat this and would also produce "100-250 percent growth in low carbon markets compared to their scale under the 20 percent target."

However, the report stated that this would only happen if the methods used to cut emissions were correct, highlighting that reductions should not be achieved by purchasing cheap emissions permits from India or China.

It stated that the effort "will need to prioritise investment in domestic European energy efficiency in homes, power stations and factories, and in the infrastructure and innovation needed to sustain reductions beyond 2020 and maintain European companies' competitive edge in the low carbon race".

Calls are also being made for the EU to increase its vehicle emissions targets, as figures suggest that aims are now likely to be met ahead of schedule.  ADNFCR-1235-ID-800248482-ADNFCR


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