Greenhouse gas emission trends and projections in Europe 2012 : tracking progress towards Kyoto and 2020 targets

At the end of 2011, almost all European countries were on track towards their Kyoto targets for 2008-2012. The EU-15 also remained on track to achieve its Kyoto target. Italy, however, was not on track. Spain plans to acquire a large quantity of Kyoto units through the KP's flexible mechanisms to achieve its target. With emission caps already set for the economic sectors under the EU Emissions Trading Scheme (EU ETS), emissions reductions during 2012 in the sectors outside the EU ETS together with reductions by carbon sinks will set the frame for how many Kyoto units Member States need to acquire to reach their individual targets. Hence, both the development and delivery of adequate plans to acquire enough Kyoto credits is becoming increasingly important. ETS emissions from 2008 to 2011 were on average 5 % below these caps, which results in an oversupply of allowances. The EU ETS is undergoing important changes in view of the third trading phase from 2013 to 2020. Most EU Member States project that in 2020, their emissions outside the EU ETS will be lower than their national targets set under the Climate and Energy Package. However, further efforts will be necessary to achieve longer term reductions.