Back in April, Poland killed an effort to increase the EU’s carbon reduction target from 20% by 2020 to 30% by 2020, despite the fact that such a policy change would result in a net benefit for Poland! Perhaps hoping that Poland would come around following the report showing that to be the case, or perhaps just being a super enthusiastic renewable energy champion, Germany has put a discussion of stronger EU emissions cuts back on the agenda.
“Germany asked for it (a deeper cut) to be added to the environment council agenda,” an anonymous source told Reuters.
“It will be debated as part of discussion on the transition towards a competitive, low-carbon economy.”
The EU’s Emissions Trading Scheme has dropped to record lows due to the EU’s rapid adoption of clean energy and, thus, low demand for renewable energy investment: “its collapse to record lows means that it is having the opposite effect and has been driving investment in coal-fired generation rather than gas, which is the cleanest of the fossil fuels, analysts and utility companies have said.”
Currently, the carbon price is €7 and an ideal price is projected to be €20-50.
Image: oil/globe question mark via Shutterstock
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