Europe’s 2050 climate strategy
In 2014, the EU agreed to cut its greenhouse gas emissions by at least 40% by 2030 and 85%-90% by 2050. To bring these goals in line with the Paris Agreement’s objective to pursue efforts limiting global warming to 1.5 degrees Celsius, the European Commission will publish a strategy in 2019 on how to fully decarbonise the EU economy by the middle of the century.
The challenge to reach net zero emissions by 2050 is enormous, as it implies significant changes to existing policies, governance structures, land use and infrastructure, production methods, finance needs, and lifestyles.
The Commission’s mid-century strategy will follow the publication of the special report on 1.5 degrees by the Intergovernmental Panel on Climate Change (IPCC) and the United Nations Framework Convention on Climate Change (UNFCCC) facilitative dialogue that aims to identify ways to enhance the climate ambition of all countries under the Paris Agreement.
At this key point in time, Carbon Market Watch calls for increasing shorter term climate ambition in order to avoid dramatic and costly emission cuts after 2030 and an ambitious mid-century strategy that supports climate action at all levels and by all sectors of the society in order to reach the Paris Agreement goals and to avoid dangerous climate change.
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