A report from Europe says European Union leaders intend next month to agree on a timeline for developing energy and climate targets for 2030, delaying a final decision on the polices.
Bloomberg newsagency reports two people with knowledge of the matter say most governments in the 28-nation bloc need more time to reconcile differences.
Bloomberg reports the people, who asked not to be identified because of policies against speaking publicly, said differences remained over a proposal by the EU’s regulatory arm calling for tighter emissions restrictions and an overhaul of renewable energy policies by 2030.
EU presidents and prime ministers will debate the issue in Brussels for the first time on March 20 and may back setting a deadline for a decision later this year, they said.
The delay may be a setback for the global effort to fight climate change and for United Nations Secretary General Ban Ki- Moon, who is convening world leaders on September 23 to set out ways to curb fossil fuel emissions.
The EU has for decades been at the forefront of that process, and hesitation on its part may remove a spur for the United States and China to act.
“It’s very important that EU leaders set a time horizon in March for endorsement of the commission’s proposal, that’s a signal that Europe must send globally,” said Tomas Wyns, a researcher at the Institute of European Studies at the Brussels Free University.
“Hopefully that will be June. Otherwise it may only be October or at the end of the year.”
Before the EU summit in March, governments are scheduled to discuss the commission’s proposal at a gathering of competition ministers tomorrow.
Environment ministers will meet on March 3, and energy ministers the next day, according to Greece, which holds the bloc’s rotating presidency.
Bloomberg reports heads of state will probably give political guidance on the matter through the European Council, said a presidency official, who asked not to be identified because of communication policy rules.
The official declined to comment on the possible outcome of the March meeting.
EU carbon prices rose as much as three per cent to a 13-month high of €6.88 on the ICE Futures Europe exchange in London, buoyed by the EC’s plan to start temporary curbs on supply as soon as next month.
The 2030 package will be the next focal point for investors, since stricter climate targets would mean the supply of allowances will have to be cut more aggressively after 2020.
Debate about the timing of adopting the target highlights the divide between countries in western Europe such as Britain and France, which want a quick decision, and those in the east led by Poland, which are concerned that the new targets will boost energy prices.
