| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2014) 15 final (22.1.14) |
| Publication Date | 22/01/2014 |
| Content Type | Policy-making, Report |
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Much has been achieved since the EU adopted its first package of climate and energy measures in 2008. The EU is now well on track to meet the 2020 targets for greenhouse gas emissions reduction and renewable energy and significant improvements have been made in the intensity of energy use thanks to more efficient buildings, products, industrial processes and vehicles. These achievements are all the more significant given that the European economy has grown by around 45% in real terms since 1990. The 20/20/20 targets for greenhouse gas emissions, renewable energy and energy savings have played a key role in driving this progress and sustaining the employment of more than 4.2 million people in various eco-industries, with continuous growth during the crisis. The Union has set itself three targets to be attained by 2020 for greenhouse gas emissions reductions (20%), the share of renewable energy (20%) and improvements in energy efficiency (20%). Current energy and climate policies are delivering substantial progress towards these 20/20/20 targets. Much has also changed since 2008. Most obvious is the impact of the economic and financial crisis which has affected Member States' capacity to invest. Fossil fuel prices remain high which negatively affects the Union's trade balance and energy costs. In 2012, the EU's oil and gas import bill amounted to more than €400 billion or approximately 3.1% of the Union's GDP. There has been a decisive shift in the centre of gravity of global energy demand towards emerging economics, notably China and India. At the same time, households and industrial users are increasingly concerned by rising energy prices and price differentials with many of the Union's trading partners most notably the USA. The internal energy market has developed but new risks for fragmentation have emerged. The EU's Emissions Trading System (ETS) is not driving investments in low-carbon technologies sufficiently well, increasing the likelihood of new national policies that undermine the level playing field the ETS was meant to create. While renewable energy technologies have matured and costs have fallen substantially, the rapid development of renewable energy sources now poses new challenges for the energy system. Many energy using products are now more efficient and consumers are benefitting from real energy and financial savings. At the same time, there has been further confirmation of the likely impact of human influence on climate change and of the need for substantial and sustained reductions of greenhouse gas emissions to limit further changes in the earth's climate. It is now time, therefore, to reflect on these developments and the policy framework we need for 2030. In line with stakeholders' responses to the Green Paper, there is a need to continue to drive progress towards a low-carbon economy which ensures competitive and affordable energy for all consumers, creates new opportunities for growth and jobs and provides greater security of energy supplies and reduced import dependence for the Union as a whole. We need to make an ambitious commitment to make further greenhouse gas emission reductions in line with the cost-effective pathway described in the 2050 roadmaps, and to do so in time for the upcoming negotiations on an international climate agreement. We need to provide regulatory certainty as early as possible for investors in low-carbon technologies, to spur research, development and innovation and up-scaling and industrialisation of supply chains for new technologies. This must all be done in a way which takes account of the prevailing economic and political realities and builds on our experience of the current policy framework. This Communication develops a framework for future EU energy and climate policies and launches a process to arrive at a shared understanding of how to take these policies forward in the future. |
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| Source Link | Link to Main Source http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2014:015:FIN |
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| Subject Categories | Energy, Environment |
| Countries / Regions | Europe |
