EC Statement: Connie Hedegaard - answer to MEP question on withdrawal of Japan from the Kyoto Protocol
( February 18, 2013, 16:34 GMT | Official Statement) -- MLex Summary: Climate Commissioner Connie Hedegaard says the European Commission will continue to monitor the risk of carbon leakage for industries covered by the Emissions Trading System, notably following Japan's decision to withdraw from the Kyoto Protocol. She says the EU executive will continue to handle the situation through measures including free allowances and access to international credits.Answer and original question follow:
Answer given by Ms Hedegaard on behalf of the Commission
(15.2.2013)
The EU agreed to be included in a second Kyoto commitment period in Doha as part of a broader package that applies during the 2013-2020 transition towards a new international agreement applicable to all. As part of this package, 60 developed and developing countries have committed to pledges for pre-2020 mitigation action under the UN Framework Convention on Climate Change, in addition to the countries with Kyoto targets. These commitments, covering together more than 83% of global emissions, include: 25% (Japan) and 15-25% (Russia) emission reductions compared to 1990, 17% emission reductions (US and Canada), 40-45% reduction in carbon intensity (China) and 20-25% reduction in energy intensity (India) compared to 2005. In addition, the EU advocates the urgent need to address the mitigation gap pre-2020 through enhanced action by both developed and developing countries, as well as the need to actively engage in negotiations for a new and comprehensive agreement with all on board. The EU is already implementing what is agreed to undertake under a second commitment period, under the Kyoto Protocol through the existing Climate and Energy Package.
The potential risk of carbon leakage for companies covered by the EU ETS is carefully monitored. The EU has opted for the use of free allowances and access to international credits as measures to address the risk of carbon leakage for its energy intensive industry. In addition, some industrial sectors are eligible for state aid by Member States. In view of the very weak carbon price signal the Commission considers the measures in place to contain the risk as more than adequate.
11 January 2013...
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