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Higher EU climate target ‘economically feasible’

Higher EU climate target 'economically feasible'

The EU's plan to reduce the bloc's greenhouse emissions by 55 percent by 2030 is "technically and economically feasible," according to a new report published on Monday (24 August) by German think-tank Agora Energiewende and environmental research institute Öko-Institut.

In September, the European Commission will present a revised EU 2030 emissions reduction target aligned with its 2050 climate-neutrality target set in the Green Deal.

To do so, the EU executive is expected to propose increasing the 2030 emission-reduction target from the existing 40 percent goal to between 50 and 55 percent.

The report points out that the reform of the EU emissions trading system (ETS) scheme, which covers emissions from power plants, energy-intensive industry, and commercial flights, could be key to reduce emissions quickly.

To deliver the 55 percent target, researchers estimate that the emissions covered by the EU carbon market should fall to 61 percent from 2005 levels - a bigger cut than the 43 percent reduction the ETS is set to deliver by 2030.

Additionally, emissions from sectors not covered by the EU carbon market, such as buildings, agriculture, and waste, should also drop by 47 percent from 2005 levels.

However, member states remain divided about a higher EU 2030 target, as central and eastern European countries have expressed concerns about different starting positions and possibly deepening inequalities.
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