Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-10-Speech-2-673-000"
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"en.20110510.66.2-673-000"2
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"The Commission has actually already responded to similar written questions from the honourable Member Mr Ziobro on the cost of reducing greenhouse gas emissions in the European Union by 2020 and on the question of carbon leakage, back in March and April 2010.
The EU has managed to decouple its economic growth from its emissions. EU GDP has increased by 45% since 1990 while emissions have been reduced by 13%, and that includes 2010 figures, meaning that was after we exited the crisis. Over the same period, the European Union manufacturing industry grew by more than 30%. These figures show that continued growth can go hand in hand with reducing emissions. For instance, it is actually estimated that, between 2005 and 2009, 550 000 new jobs were provided by the renewable energy industry alone.
Firstly, with regard to carbon leakage, the Commission would like to stress that in the latest amendment of the ETS Directive the European Parliament and the Council have decided to tackle this issue by allocating a higher share of free allowances for sectors and subsectors deemed to be at a significant risk of carbon leakage. The Commission's analysis published back in May last year confirmed that free allocation is an effective means to address the potential risk of carbon leakage.
Moreover, the risks for carbon leakage have been reduced further, since now more than 80 countries, amongst which all emerging economies, are implementing the pledges they committed to in Copenhagen and are implementing their domestic targets. I must say that the Commission has no evidence that companies are moving their production outside the EU due to climate policy.
Secondly, the European Commission has assessed in detail the costs and benefits of CO
emission reductions on the European economy in the framework of the Climate and Energy package agreed back in 2008. More recent analysis conducted in 2010 shows that the costs of meeting the 20% greenhouse gas reduction target have fallen by at least one third compared to the analysis made in 2008. Now they are estimated at EUR 48 billion, which represents 0.32% of the projected 2020 GDP. Having said that, it should also be mentioned that some of these investments will come back in, for instance, saved oil expenditure.
In developing the climate and energy package, the Commission has taken due account of the different circumstances in the Member States in terms of economic development, wealth and energy mix. In addition, the climate and energy package contains three specific mechanisms to balance overall costs across Member States, so that efforts are shared in a fair and equitable manner."@en1
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"2"1
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