European Union outlines 2030 environmental target

The European Commission has outlined its plans for climate and energy policy until 2030.The Commissioners want a binding target to reduce carbon emissions by 40% from 1990 levels. Renewables will need to provide 27% of EU energy by 2030, but while the target will be binding at EU level there will be no mandatory targets for member states.

The policy proposals are subject to review by heads of government.Green groups have said the new targets lack ambition and the 40% emissions cut is "dangerously low".This wide ranging White Paper will have a significant impact on the way Europe generates its power from 2020 onwards.

The Commission wants to give clarity to investors in renewable energy while at the same time maintaining their leadership role in global climate negotiations. A critical part of that is the headline figure on emissions cuts. The target that was set for 2020 was 20% but the EU as a group had almost reached the goal by 2012.

Some countries including the UK urged the Commission to propose a bigger target of 50% by 2030 whereas others held out for 35%. The move was welcomed by investors. According to the Institutional Investors Group on Climate Change, who's members manage 7.5 trillion euros, the new target was a good first step.