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[Press Release] European Commission agreed on 23 January 2008 to a far-reaching package of proposals that will deliver the European Council’s commitments to fight climate change and promote renewable energy. These measures will dramatically increase the use of renewable energy in each country and set legally enforceable targets for governments to achieve them. All major CO2 emitters will be given an incentive to develop clean production technologies through a thorough reform of the Emissions Trading System (ETS) that will impose an EU-wide cap on emissions. The package seeks to deliver the European Union to reduce greenhouse gases by at least 20% and increases to 20% the share of renewable energies in the energy consumption by 2020, as agreed by EU leaders in March 2007. The emissions reduction will be increased to 30% by 2020 when a new global climate change agreement is reached.
The full proposal can be found by clicking here.
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Ken Berlin, Robert M. Sussman. Link to web site for "The Path to Cleaner Coal: Performance Standard More Effective Than Bonus Allowances," Center for American Progress Action Fund. August 2007.
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Ken Berlin, Robert M. Sussman. Center for American Progress. "Global Warming and the Future of Coal: Carbon Capture and Storage. May 31, 2007. Link to the document web page on Center for American Progress web site.
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Vajjhala, Shalini, Jenny Gode and Asbjørn Torvanger, 2007. An International Regulatory Framework for Risk Governance of Carbon Capture and Storage. CICERO, 11pp. May 2007.
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Ken Berlin and Robert M. Sussman, Center for American Progress. May 2007.
Sussman and Berlin make a very good case for complementary technology in general, and their report specifically relates to the need for performance standards to implement CCS technololgy. The authors maintain that neither cap and trade nor coal taxes will suffice because the price of carbon emissions or coal will not go high enough to spur the new technology. A performance standard will need to be accompanied by incentives, say the authors, to keep energy prices affordable.
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2007 EU-U.S. Summit Statement - Energy Security, Efficiency, and Climate Change, 30 April 2007.