While the European Commission’s impact assessment on a possible increase in the European Union’s climate target for 2030 is being finalised, it already shows that a 50-55% reduction in the EU’s greenhouse gas (GHG) emissions over the next 10 years is “doable” and “can underpin a sustainable economic growth”, revealed the institution’s Executive Vice-President in charge of the European Green Deal, Frans Timmermans, on Tuesday 1 September at an event organised by Bruegel.
As the Commission’s assessment will be formally presented in the coming weeks, the Vice-President did not, however, provide further details.
According to one source, the President of the Commission, Ursula von der Leyen, could announce a target of 55% in her annual State of the Union address on 16 September.
The Commission’s study is in any case eagerly awaited, particularly by some Member States heavily dependent on fossil fuels, which consider such an increase unrealistic and are concerned about the socio-economic impact of the efforts they would have to make in this way (see EUROPE 12527/3).
During the event, the Vice-President also gave a resolutely optimistic speech in favour of a recovery guided by the Green Deal and focused on the sectors of the future and not the industries “which we know have no future”.
In particular, he stressed the importance of the European taxonomy (see EUROPE 12538/18), so that finance ceases to be the problem, but “can help find the solution” by “switching from brown investments to green investments”.
Asked which policy he considers to be a priority, Mr Timmermans said he would favour the ‘renovation wave’ initiative (see EUROPE 12484/16) if he had to choose just one.
According to him, the renovation of buildings can indeed meet the short-term economic needs of the post-Covid era by creating local jobs and lowering energy bills, while contributing to the long-term goal of decarbonisation. (Original version in French by Damien Genicot)