The EU has pledged to
move to a climate-neutral
economy by 2050. At the
same time, we have been
hit by a worldwide pandemic and a
severe economic crisis.
In this time of
uncertainty, Europe and the European
Union must show leadership and help
Europeans on the road to recovery. In
doing that, we need to learn from the
past and embrace this opportunity to
transform our economy and society
with the help of the European Green
Deal for all Europeans. This means
increasing investment, creating
jobs and innovating for sustainable
solutions. There is no policy area
more suitable to start with than the
energy field.
If we look at Europe’s greenhouse
gas emissions, we see that energy
generation, transmission and
consumption are responsible for 75%
of the EU’s emissions. Together with
European Member States and the
European Parliament, we have already
done a lot to make EU energy policy
legislation fit for the new challenges.
Finalised in 2019, the Clean energy
for all Europeans package addressed
the three main priorities of EU energy
policy: security of supply, affordability,
and sustainability. The European
Green Deal aims to continue in this
path across all sectors and complete
the transformation of our energy
system into one that is not only
carbon-neutral, but also, more cost
effective, energy efficient and secure.
At the same time, some sectors face
a larger transformation than others
and so we must ensure that we
do not leave any person or region
behind. We must make the transition
a fair and just process that everyone
is a part of.
The principle of 'Energy Efficiency
First' is at the heart of the European
Green Deal. The cheapest and
cleanest energy is the one we do
not use, so the more we can do to
reduce energy consumption, the
better. This is also good news for
consumers – saving energy will not
only cut emissions, but also lower
their energy bills.
Our main thrust of action in this
area will be to improve the energy
efficiency of buildings. Buildings are
one of the main energy consumers in
the EU, as well as being responsible
for a large amount of GHG emissions.
Embracing renovation on a massive
scale could not only help our climate
and environment, but also kick start
the recovery from the coronavirus
crisis. This so-called "Renovation
Wave" should trigger economic
activity, create jobs and support
small local companies, while reducing
energy bills and improving people's
quality of life. A crucial aspect will be
the inclusion of social housing in the
wave, to help address the challenge
of energy poverty in the EU. Our latest
figures indicate that up to 50 million
people around the EU are not able
to properly heat their homes.
In this day and age, this is simply
not acceptable.
Energy efficiency is important, but so
is the source of our energy.
We need to increase the share of
renewable energy by making it easier
to incorporate renewables into our
energy system. For this to succeed,
we must move towards an integrated
energy system to build stronger
inter-linkage of the electricity,
heating and cooling, transport, gas,
industry, and agricultural sectors. In
addition, in order to further boost
decarbonisation, we will present a
new strategy to support offshore
renewable energy, addressing the
opportunities and challenges therein,
such as the impact on energy grids
and markets, the management of
maritime space and the industrial
policy dimensions of offshore wind.
Supporting renewable energy as
well as investing in big energy
infrastructure projects that stimulate
the economy are necessary preconditions
for a climate-neutral
energy system. We need to use this
moment as much as possible to
drive through structural change. If we
make our energy systems greener, more efficient, smarter, and better
integrated now, during this crisis,
we can bring deeper and lasting
positive change.
Making the European Green Deal a
reality will also depend on funding
the necessary investment – and the
smartest combination of public and
private finance. Just to meet our
2030 climate and energy targets, we
need an estimated additional €260
billion in annual investments. Public
money alone cannot foot this bill. In
fact, we will have to rely primarily on
the private sector.
By setting clear long-term goals, we
are already reducing the risks for
investors. Public spending can also
play an important role in leveraging
private support and providing
guarantees. In this context, the
Commission has already put forward
a Green Deal Investment Plan, which,
over the course of the decade, can
generate as much as €1 trillion to
fund sustainable projects.
Our efforts must not endanger the
security of energy supply that we
enjoy in the EU. For this, we need
a forward-looking, modern, secure
and smart energy infrastructure to
safeguard it. And we must pursue
the diversifi cation of our sources of
energy supply to decrease import
dependency. Natural gas, which still
constitutes almost one quarter of the
EU’s energy mix, has a role to play
in the medium term, as a substitute
for more polluting sources like coal,
lignite or oil shale. Ultimately though,
the gas we use in the EU has to be
clean. We are already working on
creating an environment where clean
gases can have a signifi cant presence
in the EU gas sector.
To conclude, we know that moving
towards a climate-neutral green
economy by mid-century will be a
challenging and long journey and that
the energy sector must contribute.
But we are starting from the common
foundation of the Energy Union and
we are more effi cient and stronger
by joining forces at EU level. This is
a real opportunity for Europeans.
The European Green Deal is the EU’s
recovery and growth strategy: together
with the digitalisation of the EU, we will
increase our strength and resilience
and be ready for future crises, whilst
at the same time reducing our net
emissions to zero by 2050.