UPDATE 3-EU to miss 2020 efficiency goal, cull CO2 permits

Mon Mar 7, 2011 6:57pm GMT

* EU to bolster climate action by cutting CO2 permits

* If meet efficiency, green target would pass emissions goal

* Meeting efficiency goal needs extra 270 bln euros annually

(Adds details on emission cuts' targets, paragraph 5)

By Juliane von Reppert-Bismarck

BRUSSELS, March 7 (Reuters) - The European Union will fall well short of a target to sharpen its energy efficiency by 2020 on current trends, its executive Commission said on Monday.

The Commission will stick to a plan to tighten the supply of emissions permits to its carbon market, in a proposal it will publish on Tuesday, as it tries to shore up action to fight climate change.

The Commission is due to publish its "Climate Roadmap to 2050" on Tuesday which will detail how to slash greenhouse gases by the middle of the century.

"The latest analysis shows we are on target for 10 percent," EU Commission spokesman for the climate division Isaac Valero Ladron told Reuters, referring to the non-binding goal to improve efficiency by a fifth compared with 1990 levels.   Continued...

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