EU 2030 climate and energy package – The Climate Group responds

With a 27% renewable energy target by 2030, Europe set the bar too low to convince investors to move away from fossil fuels and switch to a low carbon economy

October 27, 2014. By Moulin

Mark Kenber, CEO of The Climate Group, comments on the climate agreement recently adopted by the European Council.

“We have a deal on the EU 2030 climate and energy package – and that’s a good thing. Europe is the first major economy to agree on its climate targets ahead of the Paris conference in 2015 and its leaders should be commended for that. It gets the ball rolling and paves the way for others to follow suit in the coming months.

“The binding target to reduce greenhouse gas emissions by at least 40% by 2030 is an important first step. But it won’t allow Europe to reclaim its position as a world climate leader. 40% is still not enough to put the EU on a path to net zero emissions by mid-century and kick start the transformational change we need. 40% must be seen as a floor which opens the door to increased ambition.

“The two other targets are frankly disappointing. With a 27% renewable energy target by 2030, Europe set the bar too low to convince investors to move away from fossil fuels and switch to a low carbon economy. The 27% target for energy efficiency improvements, which is only “indicative,” doesn’t send the right signal and won’t convince businesses to make a step change in energy efficiency investment. The review clause by 2020 will be important to revise the ambition upward.

“The business community was hoping for consistency from policy makers. They don’t have that yet. European leaders must now seize the opportunity to strengthen their ambitions and set the EU on a clear path to an innovative, prosperous, job-creating, low carbon future.”

Tags:

Business