EU Talking Turkey on CO2

Today's the day EU member states get serious — or not — about CO2. Environment ministers from 27 countries are sitting down in Brussels to hammer out common targets for greenhouse gas emissions reduction. But given that their positions range from binding targets of 20-30 percent by 2020 to no binding targets at all, consensus may not be in the cards.

The benchmark is 1990 greenhouse gas emissions levels. Germany supports a binding 20 percent target; the EC executive, which sees deeper cuts in the offing, says that won't be enough. Denmark and Sweden favor a binding target of 30 percent; Hungary and Poland want no target at all. Finland, under pressure from paper manufacturers, complains that 20 percent is beyond the pale.

Meanwhile, Slovenia, Spain and the UK wrote a "get real" letter on Monday calling for serious action on climate change:

"Of course, the climate change challenge will not be solved solely by the actions of the European Union. But we are 27 countries and over 490 million people. And in 2004, these 27 countries emitted over 6,000 million tonnes of greenhouse gases. Failing to grasp this opportunity would have serious implications for further urgent progress — as well as for the credibility of the European Union as a strong and leading international environmental player."

If they manage to get that solved, they still have a few other wrinkles to iron out — such as CO2 burden sharing, capture and storage; targets on renewable energy; use of biofuels; and possible inclusion of airlines into the EU's emissions trading scheme. Sounds like a late night.

[Source: Business Week]