EU Leaders Strike Climate Deal
About half of that figure takes place within the EU‚Äôs Emissions Trading System; the other half comes from the non-ETS sectors, with national, tradeable targets, Reuters reports.
The deal also commits member states to generating at least 27 percent of energy from renewable sources by 2030. Currently, the EU‚Äôs share of renewables is about 14 percent.
Additionally, the EU leaders agreed to an increase of at least 27 percent in energy efficiency, which will be reviewed by 2020.
Dozens of major companies including Unilever, Shell and Coca-Cola in recent weeks have urged the EU heads of state to set aggressive, binding carbon reduction targets.
An analysis released last week by Ecofys said the EU can achieve carbon reductions of 49 percent by 2030 by cutting its dependency on natural gas imports and increasing cost-effective investments in renewable energy and energy efficiency.
Photo Credit: industrial plant emissions via Shutterstock
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