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Ref 803. The 27 member States of the European Union have reached an agreement for the fight against global warming . The European Council has decided on a reduction of 20% of greenhouse gas emissions, an energy saving of 20% and a part of 20% of renewable energy in the electric energy consumption for the 2020 horizon.

Ref 808. Cutting Fossil Fuel Subsidies can cut Greenhouse Gas Emissions says UN Environment Report Scrapping fossil fuel subsidies could play an important role in cutting greenhouse gases while giving a small but not insignificant boost to the global economy a new report by the UN Environment Programme (UNEP) says. The report challenges the widely held view that such subsidies assist the poor arguing that many of these price support systems benefit the wealthier sections of society rather than those on low incomes. They are also diverting national funds from more creative forms of pro-poor polices and initiatives that are likely to have a far greater impact on the lives and livelihoods of the worse-off sectors of society. Globally around $300 billion or 0.7 per cent of global GDP is being spent on energy subsidies annually.

Ref 809. CDM Projects takes Off in Sub Sahara Africa UNEP has presented new findings on the penetration of the Clean Development Mechanism (CDM) in sub Saharan Africa. There has been concern that the benefits of the CDM, a contrasting example of a policy tool aimed at wider social, economic and environmental benefits when compared with fossil fuel subsidies have been by-passing countries in Africa. Achim Steiner, UN Under-Secretary General and UNEP Executive Director said the uptake in Africa was due, in part to the impact of the UN's Nairobi Framework initiative launched in 2006.



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