Today, 17th of September, Executive VP Frans Timmermans and Commissioner Kadri Simson have presented the bold EU plan of reaching -55% GHG emissions compared to 1990 levels by 2030, a key step to have a climate-neutral continent by 2050.
The plan is meant to fight both the climate crisis and the economic crisis that is following the Covid-19 pandemic, creating jobs and bringing economic growth.
To reach this -55% target, the Commission presented diversified measures.
- The EU Emission Trading System will be revised and expanded (e.g. to transport) since it proved to be successful and resilient.
- “Carbon sink”: planting trees and taking care of our forests are considered key ways to reach the target. A forest strategy will be prepared.
- The energy sector, which accounts for 75% of CO2 emissions, has to continue to be deeply decarbonized. By 2030:
- Electrification should reach 30%
- The rate of building renovation has to double
- Share of RES in transport has to reach 24%
- Reduce fossil fuels consumption: oil -1/3, gas -1/4, coal -70%
The impact assessment has also highlighted how, to reach the goal by 2030, it is necessary to have:
- 38-40% RES in the energy mix:
- 36-39% improvement in Energy Efficiency
These targets will have to be included in a review of the Energy Efficiency and Renewable Energy Strategy Directives that will be carried out in the months to come.
- Hydrogen is recognized as a very promising option to store excess renewable energy, to be used as a renewable fuel and in sectors that are complex to decarbonize.
In order to grow RES generation, the Commission has also adopted a new renewable energy financing mechanisms to allow Member States where producing RES is challenging to put resources in the Member States with significant wind or sun.
All these measures will be challenging and will require significant investments, but they are viable.
The ambition is remarkable and the target is set. Now we will all have to push even harder to achieve it.