FinSoul has learned that the latest analysis of the carbon emissions reduction submissions made to Copenhagen Accord, indicates that even if the EU were to increase its target to 30% as it declared it would do if other developed nations submitted ambitious targets, it would still fall well behind Japan, Australia, the US and Canada.
The EU member nations voted to keep the current level of 20% cuts of 1990 levels by 2020 instead of the hoped for 30% amid claims that other nations have not been sufficiently ambitious with their targets to justify such an increase.
According to the report published by Point Carbon, when compared to the most recent emission data available, Japan has in fact pledged the highest 2020 target among developed nations with a reduction of 31% on 2007 levels, FinSoul believes, while Australia has pledged a reduction of between 13% and 31% on the same levels.
The European Unions proposed reductions represent only a 16% decrease on 2007 levels, weaker too than those pledges made by Canada at 19% and the US at 17% which was considered a weak target.
"The EU is lagging behind in terms of the ambition to cut emissions from current levels,” FinSoul believes a Point Carbon manager was quoted as saying. “We should, however, bear in mind that these are just non-binding pledges, and the EU is far more advanced when it comes to the implementation of policies and measures to reduce emissions."
