PROJECT DESCRIPTION
BACKGROUND
One of todays crucial global challenges is the need to reduce emissions of greenhouse gases (GHG). The EU has clearly defined GHG emission reduction targets. On 28 November 2018, the EC published the Communication Clean Planet for All which provides a strategic long-term vision for a prosperous, modern, competitive and climate-neutral economy by 2050. To support the necessary GHG emission reductions, the 32.5% target for energy efficiency and 32.5% target forrenewable energy sources (RES) were accepted at the EU level with the perspective to 2030. It is expected that in 2020 the EU accepts the new targets for the GHG emission reductions for 2030 55% instead of 40%. To ensure the cost effectiveness of the necessary activities, the EU introduced the Emissions Trading System (ETS). It can be recognised as the main element of EU policy that is going to help countries to reduce GHG emissions with a market perspective.
OBJECTIVES
The overall goal of the LIFE VIIew 2050 project is to assess the functioning of the EU Emissions Trading System (ETS), its impacts, its interaction with other EU policy instruments and other international systems, and its possible further development with the view to an EU climate-neutral economy by 2050. The objective is also to support and promote the functioning of the EU ETS and other carbon pricing policies, and disseminate EU experience in this regard to better design climate and energy policy at the EU and international levels.
To achieve the goal, the beneficiaries will:
Develop a high-quality accessible information and data about using high-quality modelling such as CGE, energy and transport models based on existing knowledge and through stakeholder network; Provide high-quality and easily accessible information and data on climate-energy policy instruments to support deployment of low-carbon technologies and other ETS systems and carbon market mechanisms to the European Commission, European and international public administration, policymakers, NGOs, private entities, and the public; Build broader and stronger international networks of experts to disseminate information and data on evaluation of the EU ETS and to create an international political support for EU ETS and other carbon pricing mechanisms; Extend and apply the sectoral and macroeconomic models to identify and include the current and potential future instruments and mechanisms which could affect the functioning of the EU ETS; Raise environmental awareness of the public through wide dissemination of information and data which would lead to a greater understanding of the mechanisms shaping the EU ETS, evolving the system and also promoting the other carbon pricing policies and carbon markets. The project contributes to the objectives of the European Green Deal, including the achievement of the climate neutrality target by 2050. It is in line with the EC Communication Clean Planet for All, and should also support the implementation of the EU 2030 Climate Target Plan.
RESULTS
Expected results:
Preparation of at least 3 comprehensive reports dealing with the following policy challenges: EU ETS interactions with other EU climate and energy policies, EU ETS interactions with non-ETS sectors, and EU ETS interactions with other carbon markets; Inclusion at least 50 experts actively contributing to the platform for exchanging and sharing resources and results, and being involved in both analytical tasks and results dissemination; Preparation of at least 3 analytical models evaluating EU climate policy, EU ETS and other carbon markets, with three versions of each model; At least four institutions implementing outcomes of modelling results into the policy-making process; At least seven experts permanently employed in the project and beyond; Development of at least three scenarios for each analytical context will be investigated and summarised in reports; and Application of the project results to at least three policy documents.
