COP6 must make sufficient progress for the ratification to begin on core issues, including implementation rules for flexible mechanisms regarding eligibility, baselines for measuring, institutional issues, an accounting system for allocating credits, compliance, monitoring and measuring, sinks and supplementarity. In addition, COP6 should find ways to encourage developing countries to take further action. The current twin-track approach adopted by the European Commission is to identify priority policies and measures while at the same time familiarising stakeholders with emissions trading. This approach is likely to reinforce EU climate change policy. Member states will also need to step up their efforts to meet the Kyoto targets.
Reinforcement is needed in the light of growing emissions.
A successful EU climate change policy will face important policy choices. The CEPS Working Party recommends that the Gothenburg European Council in the summer of 2001 should adopt a credible EU climate change strategy. The credibility will be greatly enhanced if the Commission strategy is based on an intensive stakeholder consultation, as for example in the European Climate Change Programme. The IPCC process should continue to play the role as the most authoritative source of analysis on climate change. Communication with stakeholders and continued efforts to solicit input from developing countries are likely to strengthen its role.