Carbon Price Will Fall

The EU approved an action plan on climate change that sets ambitious goals for the bloc. The EU now vows to cut CO2 emissions and energy consumption by 20% and achieve a renewable energies ratio of 20%, all by 2020. However, concessions made to secure approval of the deal, especially to Germany and Eastern European countries, put the stated objectives at risk.

Assessment:
Climate change trends are mixed in the Near Future. The way is open for concerted EU and American leadership on next year’s climate change conference in Copenhagen, but overly generous emissions caps for industries in the EU’s plan threaten to derail the fledgeling carbon market.

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