2050 low-carbon road map up for discussion

European Union governments will discuss whether they will adopt the European Commission's 2050 low-carbon road map, with some investors concerned that it could bolster carbon prices.

Environment ministers will meet in Brussels on March 9th to discuss the proposals, which have been drafted as the most cost-effective way to achieve the European political pledge of cutting greenhouse gases by at least 80 per cent in 2050.

Denmark, which holds the EU rotating presidency in the first half of this year, urged governments to 'welcome' the roadmap and 'recognise' the importance of reaching the climate milestones in 2030, 2040 and 2050.

According to draft proposals which have been reported by Bloomberg, the 27-nation bloc is on track to meet its headline goal of cutting greenhouse gases by 20 per cent in 2020, and may even exceed this by five per cent.

The roadmap attempts to bolster European claims of being the world leader in climate change action.

Marcel Van Dun, a spokesman for the Dutch power company Eneco, told EurActiv that the roadmap would: "put Europe back in the driving seat in the worldwide transition to a future-proof, independent energy supply for our companies and citizens."

Posted by Claire Manning