A Practical Guide to a Prosperous, Low-carbon Europe Roadmap 2050 a Practical Guide to a Prosperous, Low-carbon Europe

In July 2009, the leaders of the European Union and the G8 announced an objective to reduce greenhouse gas emissions by at least 80% below 1990 levels by 2050. In October 2009 the European Council set the appropriate abatement objective for Europe and other developed economies at 80-95% below 1990 levels by 2050. In support of this objective, the European Climate Foundation (ECF) initiated a study to establish a fact base behind this goal and derive the implications for European industry, particularly in the electricity sector. The result is Roadmap 2050: a practical guide to a prosperous, low-carbon Europe, a discussion of the feasibility and challenges of realizing an 80% GHG reduction objective for Europe, including urgent policy imperatives over the coming five years. The scientific basis and the political process behind the setting of that objective are not discussed. This is the first of three volumes. It is a technical and economic assessment of a set of decarbonization pathways. Volume 2 will address the policy and regulatory implications arising from the analysis, and Volume 3 will address the broader implications for society. ECF strongly recommends that further work be carried out that will help stakeholders understand the required change in more detail, including the different ways in which various regions would experience the transformation. Roadmap 2050 breaks new ground by outlining plausible ways to achieve an 80% reduction target from a broad European perspective, based on the best available facts elicited from industry players and academia, and developed by a team of recognized experts rigorously applying established industry standards. This study is funded by ECF, which itself is funded solely by private philanthropic organizations 1. ECF does not have financial ties to EU political bodies, nor to business. Representatives of the European Commission and its services have provided strong encouragement for the development of this undertaking and have given welcome guidance regarding the objectives and the approach. Along with representatives of other EU institutions, notably the European Parliament and Council of Ministers, the European Commission has been consulted periodically throughout the course of the project. In addition, a wide range of companies, consultancy firms, research centers and NGOs have counseled ECF in the preparation of this report. These organizations can be found in the acknowledgements section.