Is the EU letting the world down on climate change? 

The European Commission is set to unveil its climate change and energy proposal on Wednesday, which is likely to be universally disappointing.

The proposal had initially been scheduled for December but was kicked back to January 23 due to the “complex nature” of the policy. Although Europe's leaders agreed upon ambitious CO2 emissions and renewables targets last year amid a flurry of backslapping and self-congratulation, they are now doing everything possible to get out of sharing the burden. A draft version of the proposal has been criticised from all possible sides:

• Environmentalists warn of the adverse environmental and socioeconomic impacts in the developing world if the proposal sets a mandatory biofuels target.
• Businesses and trade unions warn of drastic job losses in the EU’s energy intensive industries as they might relocate to regions with less stringent environmental standards.
• The UK government has already indicated that it is unlikely to meet the targets set out at last year’s Spring summit.
• Spain and Germany have written to the Commission condemning the proposed trading mechanisms for green power certificates as destructive to already existing national incentive schemes.
• Sweden and France have requested special consideration for their heavy use of renewables and nuclear energy respectively, which they argue limits their ability to boost renewable energy and decrease emissions.
• Belgium and Luxembourg have asked for special exemption arguing their small size prevents them from drastic energy reform.
• And finally, the new Central European member states claim that reducing their carbon footprint at this crucial juncture in their economic development would undermine their long-term prospects and prosperity.

The Commission has already made some concessions, such as promising to review the proposed biofuels target and to consider a carbon levy on imports from heavily polluting countries, but knows that the bloc's international credibility is at stake.  None of this will satisfy the growing number of critics and Brussels is running out of options and time to develop a compromise that is acceptable to all.

In order to achieve a minimum consensus, Brussels will have to water down its proposal and may even backtrack on the original targets. Despite early promise, it may be a miserable end to a very short and unsuccessful European leadership effort in the fight against climate change.