The annexation of Crimea by Russia pushed European Union plans to cut reliance on natural-gas imports from Russia’s OAO Gazprom to the forefront as the bloc held a first debate on 2030 energy and climate policies.
The European Union’s proposal to accelerate greenhouse-gas reductions to 40 percent by 2030 is an ambitious move from this decade’s 20 percent target, which can be partly offset with international credits, according to Climate Commissioner Connie Hedegaard.
The European Union is poised to take its first formal steps to expand the world’s most ambitious limits on fossil fuel pollution. That may widen a rift in how it balances green policies with the need for cheaper power.
The European Union’s 54 billion- euro ($71 billion) carbon emissions cap-and-trade system may be undermined if the bloc’s Parliament votes against Climate Commissioner Connie Hedegaard’s temporary rescue plan tomorrow.
The European Union’s regulatory arm is winnowing down the options for a long-term overhaul of the world’s biggest carbon market and aims to reach a decision in the coming months, EU Climate Commissioner Connie Hedegaard said.