Several Latvian officials said previously that Latvia could suffer huge losses due to the new policy framework, and that it would hinder the country’s economic growth, but the latest version of the document stipulates less stringent requirements on Latvia than the original document.
EU leaders have agreed that member states with lower gross domestic product per capita will have lower goals in reducing greenhouse gas emissions.
The most significant benefit for Latvia is in the EU Emissions Trading System, which covers agriculture and transport fields. The common goal for the EU remains the same – to cut greenhouse gas emissions by 40% by 2030 as compared with 2005 levels, however, unofficial estimations indicate that Latvia could have to cut emissions by 10%.
The Environmental Protection and Regional Development Ministry indicates that Latvia’s greenhouse gas emissions are currently close to the 2005 level. This means that Latvia’s gross domestic product continues to grow, while the growth of greenhouse gas emissions is much slower, thus, the climate policy remains consistent with the economic growth.