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Jorgen Henningsen will question whether ETS will be successful in CO2 reduction


21 Apr 2009

In a keynote speech at the COGEN Europe Annual Conference tomorrow Jorgen Henningsen, one of Europe’s architects of the Kyoto Protocol, will question the high level of
faith placed in the Emissions Trading Scheme by the current European Union administration in its battle to tackle climate change. Mr Henningsen in his address “Where to for cogeneration in the Kyoto Protocol“ will revisit the objectives of the protocol and question the role of ETS in achieving these.

Mr Henningsen will highlight that most Member States have failed to internalise the fact that improvements in energy efficiency is not only the most cost-effective way of reducing CO2 emissions but that it is often plainly profitable. However, Member States have failed to bring
in measures to truly stimulate energy efficiency investments on a significant scale, despite clear best practise examples of how to do this.

Regarding the ETS, which is the Commissions flagship policy measure to reduce CO2 emissions and decarbonise the power sector, Mr. Henningsen will say “The Commission has
clearly been overoptimistic about the contribution of emission trading to CO2 reductions. So far the system has hardly delivered anything and the low CO2 prices at present supports the fear that not only the present trading period (2008-12) but also the 2013-20 period will be a failure.” He will go on to say “the ETS does not reflect the fact that most economic operators
expect very short payback times before investing” drawing attention to the well known reluctance of investors to invest where the payback time seem long.

The COGEN Europe Annual Conference is the world’s largest annual cogeneration event. The conference takes place on 21-22 April in Brussels and showcases the impressive range
of applications for cogeneration and the huge benefits it brings to Europe in fuel efficiency and CO2 reduction. In a year of huge financial challenge and serious concerns around energy security, the conference focuses on why cogeneration is an essential strategic choice for

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