Carbon budgets vs GHG targetsETS
The carbon budgets set to help deliver Europe’s climate targets risk becoming an accounting fudge that allows these targets to be exceeded.
There are now enough spare carbon allowances in the EU emissions trading scheme and the EU Effort Sharing Decision to allow Europe’s emissions to climb back to near 1990 levels by 2020. Europe must urgently adjust its carbon budgets to ensure its intended climate targets are actually met, be they in 2020, 2030 or beyond.
This briefing was launched at our joint Sandbag/Greenpeace event Getting Back on Track on January 29th 2014.