The Intergovernmental Panel on Climate Change (IPCC) Working Group II report on climate change confirms that global warming of more than 2°C above current levels will result in widespread negative impacts. The report therefore endorses the Commission’s policy of limiting global climate change to 2°C. Following the release of the report, Stavros Dimas, European Environment Commissioner, stated that by summer 2007 he intends to launch a Green Paper on adaptation to climate change. The Commission’s policy will inevitably focus upon the energy sector, with one of the principal strategies in reaching the 2°C target being the reduction of emission profiles. However, the Commission envisages that this goal can be achieved in a cost effective way. It is projected that the costs incurred as a result of investments in low carbon technologies are less than 0.5 per cent of global annual GDP up to 2030. Additionally, even with an emissions profile that is compatible with the 2°C objective, World GDP is still estimated to double over the next 25 years.