ABSTRACT
The preparatory economic analysis for setting climate and energy targets has become increasingly sophisticated over the years. For the Kyoto Protocol’s first commitment period, the target setting was subject to less economic analysis than has been the case for the 2020 and 2030 targets. By contrast, the preparation of the targets for the period from 2012–2020 was subject to much more extensive economic analysis. The economic analysis allowed for the formulation of a reliable order of magnitude of the overall economic impact, of the likely technologies that would have to be brought to the market, and on the accompanying measures that would have to be considered. The lack of consensus amongst European Union Member States on the essential elements of the 2050 Roadmap created a serious political problem. On the basis of this analysis, the Commission reconfirmed that a greenhouse gas target of at least 40% compared to 1990 was both realistic and economically achievable domestically.
