Latest developments from the EU

摘要

The European Commission (EC) has unveiled the cost of its ambitious plan for cutting European Union (EU) greenhouse gas emissions by 80-95% of 1990 levels by 2050, reports Keith Nuthall. Brussels says that an additional targeted annual investment over the next 40 years is needed - equalling 1.5% of the EU's GDP - or ?270bn. It argues that 'much or all of this extra investment will be recovered through lower import bills for oil and gas... estimated at ?175-?320bn/y.' It would also ease EU balance of payments problems, given the majority of oil and gas is imported. This low carbon investment would promote clean technologies, infrastructure (such as smart electricity grids) and environmental protection, said the EC, which added that the plan required a 25% emissions cut by 2020, above the current 20% target. Officials are now drafting a detailed policy plan.