The decision to reduce CO2 emissions in the EU by 40% until 2030 comes with a nice qualification:
The European Council endorsed a binding EU target of an at least 40% domestic reduction in greenhouse gas emissions by 2030 compared to 1990.
As EU Climate Change Commissioner Connie Hedegaard pointed out in talking to the dpa news agency, that means that in contrast to the 20% goal of 2020 the EU can’t rely on buying carbon credits from countries outside of the EU to achieve this goal.
That in turn means that 40% is not only the double of the previous goal. It is even more ambitious.
Of course the European Council could have decided on even more ambitious goals. But I for one would be quite happy with adding 20 percent every ten years from now on.
For the next fifty years, counting from 2030.
Which would leave us at 60% for 2040, 80% in 2050, 100% in 2060, 120% in 2070, and 140% in 2080.
That of course means cleaning up 20% of 1990 EU emissions in 2060, while having zero new emissions, and increase that to 40% in 2080.
The cheapest option to do so may be using olivine.
Source: Lenz Blog. Reprinted with permission.