How Can the European Community Fulfil the Kyoto Protocol? the Wise-Man Approach

Abstract

The decisions taken at the 7th session of the Conference of the Parties to the UNFCCC make it likely that sufficient Parties will proceed with ratification of the Kyoto Protocol to result in its entry into force before the Johannesburg summit in 2002. Can the European Community fulfil the obligations of the Kyoto Protocol? The answer is yes and easily, if it follows the wise-man approach, taking advantage of the flexible mechanisms, using the option to absorb CO₂ emissions by proper “land-use-change”, exploiting the greenhouse gas reduction potential outside the energy sector and implementing some of the current proposals in the area of energy and transport policy. Quantitative analysis lead to the result that there is no need to develop new measures to meet the obligations of the Kyoto Protocol. The coming years can be used to facilitate the transition to a new energy system and to start exploring policies beyond 2012.