Modelling the health related benefits of environmental policies - a CGE analysis for the eu countries with gem-e3

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measures are taken to reduce CO2 emissions. This implies a relatively important growth
of CO2 emissions by 2008-2012, the target period of the Kyoto Protocol. The last two
columns of Table 3 present the reduction targets in terms of CO2 emissions in 2010 for
the two versions of the GEM-E3 model. The two model versions imply slightly
different emission targets for 2010 because the extended GEM-E3 model takes into
account the feedback effects of the growth in the emissions of local air pollutants (NOx,
SO2, VOC and PM) that is observed under the business-as-usual scenario. For most
countries and the EU in total this leads to a slightly smaller reduction target than in the
absence of the feedback effects. In five countries the feedback effects imply that CO2
emissions should be reduced by more than in the standard GEM-E3 model.

Table 3:     Kyoto reduction targets for 2010

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