Kyoto Protocol and Beyond: Economic Impacts on EU Countries

International Council for Capital Formation
October, 2002
By Margo Thorning

(PDF)

Notwithstanding the European Union’s recent ratifi- cation of the Kyoto Protocol on climate change, the world’s second largest economy faces major challenges in meeting not only the Kyoto greenhouse gas targets but also the more stringent emission reductions being debated for the post-Kyoto commitment period (after 2012). New data from the International Energy Agency (IEA) suggest that EU carbon emissions will continue to rise over the 2000-2030 period. Even with strong policies to reduce emissions there is almost no change from 1999 emissions levels, according to the IEA report.

The ICCF offers this report, based on a new study by DRI-WEFA (which includes all six greenhouse gases), to help policymakers understand the potential economic consequences of near-term actions to reduce greenhouse gas emissions.

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