The International Energy Agency, the International Emissions Trading Association, and the Electric Power Research Institute held their eighth international emissions trading workshop in Paris on 22-23 September 2008 to discuss key issues relating to international climate policy. NERA Senior Vice President and Environment Group Head Dr. David Harrison prepared a presentation entitled "The EU Energy and Climate Package: Interactions between EU Policies and Targets and Implications for CO2 Price Uncertainty." The presentation provided an overview of the targets that the EU has set in three related areas -- carbon dioxide, renewables, and energy efficiency -- and discussed the various policies that have been established to meet these targets, including the market-based EU ETS to reduce CO2 emissions and both market and many non-market policies to encourage renewables and energy efficiency. The presentation emphasized the interactions among the three types of policies and in particular the greater uncertainties in the potential CO2 allowance prices due to uncertainties in the likely effectiveness of renewable and energy efficiency policies in meeting their targets. These uncertainties regarding renewable and energy efficiency programs affect both the public policy effects of the EU ETS -- particularly the effort to increase the certainty of carbon prices -- as well as the private effects of carbon policy on asset values and investments in new capacity. Indeed, this situation reflects the more general proposition that combining non-market and market-based approaches can have complex and often unexpected results.