The annual progress report published by the European Commission and European Environment Agency on emissions, energy efficiency and renewables targets found the EU as a whole on track to meet its emission reduction target of 20 per cent.
According to the report emissions in 2012 reached their lowest levels of 18 per cent below the level of that in 1990.
A further reduction in emissions of 1.8 per cent from 2012 to 2013 resulted in an estimated emission reduction overall of 19 per cent on 1990 levels.
The report states that in fact the EU is ‘well on track to overachieve’ its total target emission reduction by 2020, projecting it to reach at least 21 per cent.
The UK is one of 17 countries out of 28 that succeeded in cutting energy demand from 2005 to 2012 at a rate consistent to meet the 2020 energy efficiency target.
The EU is also currently ahead of interim targets, at 14 per cent in 2012, to meet its binding 20 per cent renewables generation target in 2020, said the report.
It also found that emission reduction have not impacted detrimentally on GDP growth. The combined GDP of the EU grew by 45 per cent during the period 1990-2012.
Commenting on the report’s findings, Citigroup said “The UK, for which a lot of observers have argued that energy and environment policy is inadequate and that targets won’t be met is one of only 9 countries set to meet all 3 targets and importantly at the same time as delivering one of the fastest GDP improvements since the recession. We expect the growing penetration of renewables to ultimately bring down emissions.”