German utility E.ON AG (EOAN.XE) may reach its goal to halve its carbon dioxide emissions compared with 1990 levels ten years earlier if the Copenhagen climate change summit were to deliver a "strong result".
German utility E.ON AG (EOAN.XE) may reach its goal to halve its carbon
dioxide emissions compared with 1990 levels ten years earlier if the
Copenhagen
climate change summit were to deliver a "strong result".
"We would need a strong result to credibly reduce the long-term risk and
to reward huge capital-intensive, low-carbon investments up to 2020 and
beyond," Chief Executive Wulf Bernotat said, according to a speech he gave
on the sidelines of the Copenhagen summit this week
He added that a strong global emission reduction goal for 2050 of 50% or more
and clear targets for 2020 are critical for investment decisions.
If the summit were to provide such an outcome E.ON could halve its CO2
emissions by 2020 instead of 2030, Bernotat said.
"We could deliver this by boosting the share of CO2-free generation
capacity in our entire portfolio up to 40% already by 2020," Bernotat
said.
He added, however, that a precondition for reaching this goal more quickly
would be a lifetime extension of nuclear reactors in
Germany
.
Under existing laws
Germany
's
remaining 17 nuclear power plants are scheduled to be shut down one by one by
around 2021. The new center-right government of Chancellor Angela Merkel,
though, has signaled it is in favor of extending the lifetimes of the reactors
under certain conditions.
So far, E.ON has reduced its CO2 emissions by around 33% compared with 1990
levels. By 2050, E.ON wants to come "very close" to zero CO2
emissions, the company has said.
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