The document discusses several topics related to crises, lending policy, renewable and non-renewable resources, and proposals from the European Commission to address climate change through reducing carbon emissions. It proposes a European Union-wide cap on emissions of 40% below 2005 levels by 2020, including increasing the scope of emissions trading to include aviation and transitioning to full auctioning of carbon allowances, especially in the power sector. The costs of inaction on these crises are said to be higher than the costs of coordinated global action.
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3. Crises, what crisis? The time is ticking It may effect billions of people It is a system crises The costs of non-action are higher then the costs of action We need a global respons
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11. Proposal Commission, jan 2008 Review EU ETS Effort sharing non EU ETS Directive on promotion of renewable energy (targets and trade) Directive on carbon capture and storage (legislative framework, demonstration projects)
12. Proposal Commission A EU wide cap (40% of all emissions, 28 billion Euro) CO2 allowances available in 2020: 1720 Mt - 21% compared to 2005 emissions Can be adjusted to stricter target Increase scope: aviation to be included Harmonised allocations rules
13. Proposal: allocation Basic principle for allocation is auctioning Full auctioning power sector as of 2013 Partial free allocation to industry- in principle fased out by 2020 Report on carbon leakage by 2011 and make proposal if apprioate Auctioning rights distributed to Member States: more rights to MS with lower GDP/capita Earmarking of revenues??