Clifford Chance

New EU 2030 Climate and Energy policy framework, ETS structural changes and shale gas policy published

24 January 2014

The European Commission has published its framework of policies for climate change and energy up to 2030.  The Framework proposes 2030 targets for a reduction in carbon emissions of 40% (from 1990 levels) and for 27% of energy to be produced by renewable sources.  Also published is a proposal for a market stability reserve for phase 4 of the EU Emissions Trading Scheme beginning in 2021 to prevent surplus allowances depressing carbon prices.  The Commission has also made a non-binding Recommendation on measures to ensure shale gas exploitation addresses environmental and health & safety risks.

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