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  • Cutting CO2 will boost GDP in all EU member states

    Europe could lose economically if it does not adopt a 30% CO2 emissions reduction target for 2020. That is the conclusion of a report for the German environment ministry which challenges traditional economic assessments of emissions reduction.

    [mailchimp_signup][/mailchimp_signup]The study’s authors (a group of European academics) say traditional economic models involve short-term costs for industry which are justified by long-term savings, but these are often unpopular with industries which need to get through the short-term. The report says a 30% target would lead to low-carbon investments that would increase GDP by between 18% and 22%. It also says all 27 member states would benefit, an important finding given that many of the emerging economies in Central and Eastern Europe have complained about the costs of emissions reduction.

    • Tackling greenhouse gases other than CO2 could bring significant short-term benefits, according to a report by the UN Environment Programme and the World Meteorological Organisation. It says cutting soot, methane and ground-level ozone could halve regional warming for 30-60 years and bring about benefits to human health while long-term CO2 emissions are addressed. Soot particles are emitted from diesel engines, and ground-level ozone is caused by sunlight reacting with emissions from vehicles.