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The Low Carbon Economy Ltd

19 May 2010 05:05:10

Europe carbon emissions dropped over 10% in 2009



Europe carbon emissions dropped over 10% in 2009
Carbon emissions across members of the European Union Emissions trading scheme decreased in 2009 due to the recession.

Figures provided by member states of the EU reveal a year on year drop of 11.6 percent in CO2 emissions.

While this figure was largely in line with expectations, the key reasons for the decrease were said to be economic and driven by the recession.

A decline in economic activity was a major factor, as was the lower price of less carbon intensive gas in 2009, which made it a more attractive prospect than coal. The economic crisis also led to a significant drop in the price of carbon credits.

However, climate action commissioner Connie Hedegaard said that within the long term the recession may have a negative impact as finances meant less investment in low carbon strategies and technologies.

"Unfortunately that also means that European business did not invest nearly as much as planned in innovation, which could harm our future ability to compete on promising markets," she explained.

The economics of climate change have already been explored in depth within the Stern Review, which indicates that the cost of climate change will be higher if innovation is slow.

So, was the reduction of carbon emissions due to the recession really positive?ADNFCR-1235-ID-19787662-ADNFCR


Discussion Thread  

22 May 2010


I would like to see more data proving the reduction in emissions was due only to the recession. Perhaps data comparing carbon emissions to GDP across the major global regions, or more analysis on industrial production versus energy consumed.

Perhaps only time will tell if 2009 has a negative impact on future carbon emissions reduction.

In the case were all the emissions reduction is attributed to the economic slowdown there is still hope. The EU ETS exists to price carbon. As the global economy improves the price of carbon emissions will rise and hence the investment in low-carbon solutions.

Regards

Michael Salvatico




Discussion Thread  

 


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