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At the recent “major economies” forum on climate and energy, Commission President formulated present goals and achievements the EU member states undertook in this “twin transition”. It is compulsory working together on the global basis to achieve net zero emissions with new frontiers for technology, businesses and increased employment.
The European strategic policy is aimed at keeping global warming below 1.5 degrees Celsius. To achieve this, the EU member states have all necessary tools: innovative science and technology coped with the industrial capacities. For example, last year, the EU states produced more electricity from sun and wind than from gas and any other source.
For example, the world-wide electricity system is presently becoming cleaner than ever before on the path towards net-zero.
Necessary actions
In order to speed up the efforts and accelerate progress the following policy directions must be clarified:
= First, achieving a net-zero-power-sector by 2040; e.g. in Europe, the 2030 target for renewables was raised from 32% up to over 42% with a complemented increase in energy efficiency. Globally, many countries have chosen the same direction’s path: the recent G-7 meeting highlighted energy efficiency as a key pillar in the global energy transition as a world-wide transition policy. With this in mind, the EU is going to launch a new initiative on EU-global actions toward global targets for energy efficiency and renewable energy. These targets could be used by COP28, together with organisations like the IEA, with other complementary targets and goals, such as phasing out unabated fossil fuels and ambitious goals for zero emission vehicles and ships.
= Second, the EU and the global community share the common goal of reducing deforestation to net zero by 2030. The EU has joined the Forest and Climate Leaders Partnership and will invest one billion euros by next year, including through the Amazon Fund.
= Third, reducing methane emissions: already 150 countries have joined the Global Methane Pledge that the EU launched together with the US. In order to compose a world-wide roadmap to turn pledges into action, the EU is aimed at reducing fluorinated gases beyond what was required under the Kigali amendment. Besides, the Team Europe will continue to contribute to the Montreal Protocol Multilateral Fund.
= Finally, the EU welcomes the global initiative on a world-wide carbon management. The European Commission has proposed a binding European target for carbon storage capacity – to store 50 million tones of CO2 per year by 2030.
Source and reference to: https://ec.europa.eu/commission/presscorner/detail/en/statement_23_2386