The EU is on track for 30% cuts by 2020
ETSFlaws in the way EU Member States forecast emissions mean Europe is cutting CO2 faster than previously thought.
Sandbag’s new analysis reveals that Member State forecasts for both 2014 and 2015 are significantly above actual emission levels. We think this is the thin end of the wedge. Our forecast of EUETS emissions shows that Europe is on target to achieve economy-wide emissions cuts of 30% by 2020, against 1990 levels.
This is better than the 23% cuts achieved in 2014, better than the 25% cuts that the European Environment Agency forecasts for 2020, and most importantly it is substantially better than the European Union’s current target of 20% cuts by 2020.
Europe’s is cutting emissions much faster than it thinks. It is time to tighten climate Europe’s ambition to lock-in the emissions cuts that Europe is actually delivering.