Greenhouse Gas Emissions
Greenhouse Gas Emissions (GHG Emissions) denotes the anthropogenic (human generated) production of green house gases. Widely considered to be responsible for Climate Change.
Kyoto Protocol Gases
The seven Greenhouse Gases mandated under the Kyoto Protocol and to be included in national inventories under the United Nations Framework Convention on Climate Change (UNFCCC):
- carbon dioxide (CO2)
- methane (CH4)
- nitrus oxide (N2O)
- hydrofluorocarbons (HFCs)
- perfluorocarbons (PFCs)
- sulphur hexafluoride (SF6), and
- nitrogen trifluoride (NF6)
- As defined in
- Nitrogen trifluoride was not one of the six gases originally mandated under the Kyoto Protocol, but was added for the second compliance period (starting 2012)
The EU has set targets for reducing its greenhouse gas (GHG) emissions progressively up to 2050, with specific milestones in 2020 and 2030.
- The EU is currently on track to meet the targets for 2020.
- The European Council agreed on climate and energy targets for 2030 in 2014. The renewables and energy efficiency targets were then revised upwards as part of the legislation adopted in 2018.
- GHG Emission Reduction: 20%;
- Renewable energy share (RES): 20%;
- Energy efficiency improvements: 20%.
The key targets for 2030 are:
- at least 40% cut in greenhouse gas emissions (based on 1990 levels);
- at least 32% share for renewable energy;
- at least 32.5% improvement in energy efficiency.
In November 2018, the Commission presented its strategic long-term vision for a prosperous, modern, competitive and climate-neutral economy by 2050. Reaching net-zero GHG emissions by 2050 (climate neutrality) is considered an appropriate EU contribution to limiting the global temperature increase to well below 2 degrees Celsius and pursuing efforts to limit the temperature increase to 1.5 degrees Celsius, in line with the Paris Agreement objectives. The EU aims to adopt and submit an ambitious strategy by early 2020 to the UNFCCC as requested under the Paris Agreement.
In 2013, the European Commission adopted an EU strategy on adaptation to climate change. It aimed to enhance the preparedness and capacity of all governance levels to respond to the impacts of climate change and make Europe more climate resilient.
In 2015, the EU signed onto a new global goal on adaptation as part of the Paris Agreement, and works towards a wider and more interconnected policy agenda defined by the 17 UN Sustainable Development Goals.
- ↑ PCAF (2020). The Global GHG Accounting and Reporting Standard for the Financial Industry. First edition.