EU climate action plan
Negotiations at Poznan were in limbo for many days, waiting for EU to finalize its climate action plan. The much touted European climate deal was expected earlier. As recession split EU nations, what was finally adopted in Brussels on December 12 was a watered down version of the draft proposed earlier. Germany, Italy and eastern European states arm-twisted to get concessions for their domestic industry.
Under the plan, popularly known as 20-20-20, EU as a whole plans to reduce its emissions by 20 per cent below the 1990 levels by 2020. In addition, it also plans to get 20 per cent of its energy needs from renewables and reduce energy consumption by 20 per cent by increasing efficiency. Under the new scheme the most polluting industries like cement and steel will get almost all of their emissions permits for free for a longer period of time. Energy companies in Poland, which depend on coal for more than 90 per cent of their energy needs, and other eastern European nations, will get permits at a special discount. The plan enables member states to offset their emissions by buying credits abroad. Varying estimates say that member states will be able to offset 66 to 80 per cent of their emissions by buying credits.
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