EU Ambition in Copenhagen: hot air means we can aim higher

This briefing explores three aspects of the EU’s current climate change targets: – the degree of spare permits or ‘hot air’ that will be available for use in the next commitment period – we focus on permits issued to companies covered by the current phase of the EU Emissions Trading Scheme; – the appropriateness of the target setting formula the EU developed for itself in advance of the Copenhagen negotiations; – the effect of comparing Annex 1 country targets against different baseline years.