Renewable Matter # 20 / February-March

Emissions, Energy and Circularity: Good News from the EU

by Francesco Petrucci

In order to reach the 2030 objectives that have been agreed during the 2015 United Nations climate conference (Paris Agreement – COP21), and specifically the 40% reduction of greenhouse gases, €180 billions of additional resources are needed. That’s the result of a report by a group of high level experts on sustainable finance that the European Commission submitted on 31stJanuary 2018. The Commission will take care of finding tools to direct considerable amounts of private capital towards sustainable investments.

The EU reform of ETS (Emission Trading System), approved by the Parliament on February 6, 2018, could help reducing emissions. The formal vote of the European Union Council will give the final green light to this reform. This measure amends Directive 2003/87/EU, and strengthen the ETS system efficiency in order to reach the target of a 40% reduction of greenhouse gases by 2030. 

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