Climate neutrality by 2050: the European Commission maps out a route
The European Commission has published a detailed impact assessment of possible routes towards achieving climate neutrality in Europe by 2050. According to data collected, the most promising strategy seems to be to obtain a 90% reduction in greenhouse gases compared to 1990 levels by the year 2040.
After the European elections, a legislative proposal, agreed by the European Parliament and member states, as specified in climate legislation, will be presented. It has received a positive response from the ESABCC (European Scientific Advisory Board on Climate Change) and conforms with undertakings made by Europe as part of the Paris Agreements.
What exactly will the proposed legislation include?
Achieving a 90% reduction in emissions by 2040 and climate neutrality requires a series of favourable conditions to be met. The first step among these is the thorough implementation of existing legislation to reduce emissions by at least 55% by 2030.
Ongoing updates of national energy and climate plans (NECP) play a key role in this context, as they serve to monitor progress made. The Commission, Member States, industry and social groups involved are already working to facilitate the necessary action.
The Green Deal must then become an industrial decarbonisation agreement built on existing strong points, such as wind power, hydroelectric energy and electrolysers. This will enable industry to continue to increase national production capacity in growth sectors such as battery production, electric vehicle and heat pump manufacture, photovoltaic systems, CCU/CCS, biogas, bio-methane and the circular economy.
The advantages of the climate neutrality proposal
The announcement regarding the climate neutrality plan to be put before the Assembly, defines a series of political conditions which are indispensable in achieving the mentioned target of reducing harmful emissions by 90 percentage points, as mentioned above. Some of the most interesting include:
- full activation of the agreed 2030 strategy;
- guaranteed competitiveness of European industry;
- greater focus on an equitable transition that does not leave anyone behind;
- conditions equal to those of international partners;
- a strategic post-2030 dialogue, including industry and the agricultural sector.
According to supporters of this proposal, the results of COP28 in Dubai showed that the rest of the world is moving in the same direction. The EU is at the forefrunt when it comes to international action on climate and should continue with this strategy, creating opportunities for European industry to prosper in the new global marketplace of clean technology.
The definition of a climate target for 2040 is crucial as it will help European industry, investors, citizens and governments to make better-informed, more efficient decisions over the next ten years. These choices should enable the EU to reach climate neutrality by 2050.
This proposed legislation will send a strong signal regarding how to invest and plan for the long term effectively, while reducing the risks of getting stuck to a minimum. Thanks to advanced planning, it will therefore be possible to:
- build a prosperous, competitive and equitable society;
- decarbonise European industry and energy systems;
- ensure that Europe is a privileged destination for investments, with stable, long term job opportunities.
Furthermore, it is hoped that Europe’s will become more resistant to future crises, thanks to the improvements in its energy independence as it reduces reliance on fossil fuel imports, which accounted for over 4% of Europe’s PIL in 2022.
Translated by Joanne Beckwith
