Offsets may cut 2030 goal costs

The EU could lower the costs of meeting future climate targets by allowing international offsets to meet up to a fifth of the ambition.

A new DECC policy paper says the costs to the EU of meeting a 50% greenhouse gas reduction target for 2030 could be reduced by allowing use of international offsets.1

Costs would be 32% lower than expected if offsets were allowed to contribute five percentage points of the target rather than member states having to act domestically, the paper claims. That saving would rise to 44% if offsets added ten percentage points.

The paper’s release coincided with the European Green Growth Summit in Brussels on 28 October – a UK-organised meeting of governments and businesses that support ambitious climate targets for 2030.

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