EU and Trade-offs between Energy Security, Competitiveness and Climate Change
EU and Trade-offs between Energy Security, Competitiveness and Climate Change

Summary/Abstract: There is no question in my mind that 2008 marked a real turning point, a landmark in Europe’s history. We are on the eve of a new era, an era of new currency called carbon emissions credit/European emission allowance. David Miliband once said, “Imagine a country where carbon becomes a new currency. We carry bank cards that store both pounds and carbon points. When we buy electricity, gas and fuel, we use our carbon points, as well as pounds.”1 The new currency has become a common denominator of heated European debates about energy security, competitiveness and climate change, and constitutes a cornerstone of the famous 20x20x20 project launched at the European Council meeting in March 2007.

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