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Thursday, 10 March 2011

EC sets out roadmap for a competitive low-carbon Europe by 2050

The European Commission today adopted a Roadmap for transforming the European Union into a competitive low carbon economy by 2050. The Roadmap describes the cost-effective pathway to reach the EU's objective of cutting greenhouse gas emissions by 80-95% of 1990 levels by 2050. Based on the cost-effectiveness analysis undertaken, the Roadmap gives direction to sectoral policies, national and regional low-carbon strategies and long-term investments. The EU needs to start working now on long-term strategies, and the Roadmap provides guidance on how this transition can be achieved in the most cost-effective way. The European Commission has also taken the initiative because leading the global transition to a low carbon and resource-efficient economy will have multiple benefits for the EU. Connie Hedegaard, European Commissioner for Climate Action, said: "We need to start the transition towards a competitive low carbon economy now. The longer we wait, the higher the cost will be. As oil prices keep rising, Europe is paying more every year for its energy bill and becoming more vulnerable to price shocks. So starting the transition now will pay off. And the good news is we don't need to wait for technological breakthroughs."

Source: European Commission

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