EU LEADERS TO SET OCTOBER DEADLINE TO AGREE TO 2030 CLIMATE GOALS

03/24/2014

EU leaders plan to set an October deadline for agreeing to the bloc’s 2030 climate goals. The 28-member bloc has already nearly met its 2020 target of a 20% reduction in carbon dioxide emissions from 1990 levels, and in January the European Commission outlined a proposal to reduce emissions by 40% of 1990 levels by 2030. While environment ministers from EU member states including Germany, France, and Britain have urged EU leaders to come to an agreement so they can pressure other powers to prepare their own climate change plans ahead of the negotiations slated for late next year, other EU diplomats want to hold off until China and the United States reveal their plans. The business community is similarly divided. While big power companies prefer a clear decision in order to help them plan their investments, heavy industrial companies, who want to remain competitive with rivals in regions with less stringent environmental policies, urge caution. As 60 CEOs of European steelmakers wrote in a letter to the Council last week, “Europe must not again impose on itself unilateral CO2 reduction targets which no one else follows.” For the full story, see http://uk.reuters.com/article/2014/03/19/us-eu-climate-idUKBREA2I1IH20140319.