Europe could cut its emissions by 40% by 2020 compared to 1990 levels, according to a report published by Friends of the Earth and the Stockholm Environment Institute (SEI) on Tuesday. Mitigations costs would be €1.94trn, or 2% of cumulative GDP.
The EU says it will commit to cut its emissions by 30% provided other developed countries make "comparable" commitments. But much of these cuts would be delivered through carbon offsets. The report shows it could deliver 40% without offsets.
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