This report provides options on how to achieve a 30% reduction in
greenhouse gas emissions in the EU from 1990 to 2020. The EU has agreed a set of goals (objectives) and related instruments for 2020: the most prominent objectives are the 20% or 30% reduction of greenhouse gases (all emissions, including in and outside of the Emissions Trading System), the 20% improvement
of energy efficiency and the 20% of renewable energy use by 2020. The stringency of the instruments to reach these goals needs to be set carefully to ensure overall consistency. Particularly after the economic crisis 2008/2009, the system has to be tuned again to be fully consistent: e.g. fast take up of renewable energy and fewer emissions due to the recession may cause an
over-allocation in the EU-ETS in the extreme event.
Type: Final paper