Today, Thursday 26 May Sandbag has released a new report on the cumulative surplus of Annual Emission Allocations (AEAs) under the Effort Sharing Decision (ESD) – the EU’s bigger, but less well-known climate instrument, alongside the EU Emissions Trading System (ETS).
Sandbag’s report shows the EU’s biggest climate instrument – the Effort Sharing Decision (ESD) – is not on track to deliver the EU’s 2030 and 2050 emission reduction targets
Sandbag’s new research reveals that:
- the ESD in 2020 will have a huge surplus of 2.6 billion tonnes of carbon (in the form of Annual Emission Allowances),
- the ESD will deliver no emissions reductions beyond business as usual until after 2030, if the baseline for the start of the next phase is not changed to match real emissions levels,
- the ESD’s 30% emissions reduction target for 2030 is too low, and puts the EU on a path to missing its 2050 goals.