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ICCF Analysis of Economic Impact of Kyoto Continues
To Attract Interest from Policymakers, Economists

European Parliament Conference
November 26, 2003

At "Are we ready for COP 9?", a forum hosted by Alejo Vidal-Quadras Roca, Vice President of the European Parliament, and sponsored by the International Council for Capital Formation and FORATOM, policy experts debated the question of whether the economic models currently employed by environmental policymakers throughout Europe provide an accurate picture of the full economic costs of compliance with the Kyoto protocol.

At the forum, DG Research released a summary of its ACROPOLIS modeling project which indicated that stabilizing CO2 concentrations at 550 ppm could reduce EU GDP by as much as 1.3 percent annually by 2030. Other model results described at the forum suggested that the GDP losses in the EU could be significantly higher.

EU heads of government are beginning to express rising concerns over the costs of limiting greenhouse gas emissions, according to a report in Environment Daily (1574, 15/12/03). At a meeting on 13 December, EU leaders expressed concern about the Kyoto Protocol as a risk to European competitiveness.

In part, policymakers's increasing concern is due to the work of the ICCF in providing macroeconomic analyses of the cost of emission reductions to major EU countries like Italy, Spain, Germany, Netherlands and the UK.

Check the links below for participants' presentations:


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