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The European Climate Change Programme

The European Climate Change Programme. Seminar of Governmental Experts, 16-17 May 2005, Bonn A presentation on behalf of the EU. Artur Runge-Metzger European Commission. The EU’s Challenge: EU-15 projected progress towards Kyoto Commitments.

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The European Climate Change Programme

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  1. The European Climate Change Programme Seminar of Governmental Experts, 16-17 May 2005, Bonn A presentation on behalf of the EU Artur Runge-Metzger European Commission

  2. The EU’s Challenge: EU-15 projected progress towards Kyoto Commitments

  3. The EU’s Response: European Climate Change Programme (ECCP) • Objective • Identify and develop cost effective elements of EC strategy to meet the EU’s Kyoto target in cooperation with stakeholders • Major Milestones • Launch March 2000; October 2001: EC commitment on concrete Action Plan supplementary to Member States’ efforts • 2004: new legislation largely put in place, wide policy mix • New phase in 2005 (e.g. review, energy efficiency, aviation, CCS, adaptation) • Major Achievements • EU Measures currently “in implementation”: potential of 350-430 Mt CO2eq./year (equals Kyoto target for EU-15)

  4. EU Emissions Trading: operational since 1st January 2005 • a new, market based instrument, covering close to 50% of EU-25 CO2 emissions – the largest ever implemented • taps on the market dynamics and innovation capacity of the industrial sectors, reduces Kyoto compliance cost • covers major energy intensive industries, in total 12000 installations • approximately 2 billion allowances per year (2005-2007)  total value of allowances: 32 billion € at current prices • linking with JI/CDM: direct access of credits to EU ETS • linking with other domestic schemes enabled through current regulatory framework

  5. EU Emissions Trading: Price & Traded Volumes in the EU ETS Source: Point Carbon's Carbon Market Daily

  6. More information on EU climate change policy http://europa.eu.int/comm/environment/climat/home_en.htm

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