The President of the European Commission, Ursula von der Leyen, has proposed raising the European Union’s target for the reduction of greenhouse gas (GHG) emissions for 2030 from at least 40% to “at least 55%” (see EUROPE 12559/7) on Wednesday 16 September, during her first State of the Union address.
The proposal is based on a Commission impact assessment to be formally presented tomorrow (Thursday) which, according to Mrs von der Leyen, demonstrates the feasibility and benefits of such an increase.
“I recognise that this increase from 40% to 55% is too much for some and not enough for others. But our impact assessment clearly shows that our economy and our industry can manage this”, the President said, although some Member States are concerned about the socio-economic impact of efforts to achieve such an emissions reduction (see EUROPE 12440/1).
She assured that the analysis has “looked in-depth at every sector”, to determine “how fast we could go” and how to do it “in a responsible way”, while recalling that the Just Transition Fund will support regions where the environmental transition will be more difficult and costly.
This analysis also clearly shows that a reduction in emissions of at least 55% by 2030 “would put the EU firmly on track for climate neutrality by 2050”, said Mrs von der Leyen, concluding that the proposed target is “ambitious, achievable and beneficial for Europe”.
For its part, the European Parliament could express support for a 60% reduction through a vote on the report by Jytte Guteland (S&D, Sweden) on the ‘climate law’ during the October plenary session (see EUROPE 12558/10).
EUR 250 billion in green bonds
Turning to the issue of the NextGenerationEU Recovery Plan, the President announced that the Commission will aim to raise 30% of the EUR 750 billion it intends to borrow on the financial markets by means of green bonds (see other news).
According to her, NextGenerationEU, in which 37% of expenditures will be devoted directly to the objectives of the European Green Deal, should also invest in “lighthouse European projects with the biggest impact ”.
Energy
She thus expressed her wish to see the emergence of “new European hydrogen valleys” as well as a “renovation wave”, thanks to the support provided in the Recovery Plan.
While buildings currently account for 40% of EU emissions, the construction sector could become a carbon sink through the use of organic building materials such as wood, and through artificial intelligence, the President said.
In order for the EU to be able to reduce its emissions by at least 55% by 2030, the Commission will review all its climate and energy legislation by next summer, she said, mentioning: the offshore renewable energy strategy, the ‘renovation wave’ initiative, the revision of the ETS system, and the reform of the Energy Taxation Directive (2003/96).
While the first two initiatives are scheduled for 14 October, the other two are not expected until 2021.
Mrs von der Leyen’s letter of intent also confirmed the following for next year: the revision of the Regulation setting CO2 emission performance standards for cars and vans and a legislative proposal on post-EURO 6 emission standards for road vehicles.
Beyond the climate. While this flagship announcement on the climate dossier took pride of place, the President of the Commission made a point of recalling that “the mission of the European Green Deal goes well beyond the reduction of greenhouse gas emissions”, since “the future of our fragile planet” is at stake.
Mrs von der Leyen briefly mentioned other pressing environmental issues, such as the fight against biodiversity loss (the proposal for a strategy through 2030 is already on the table (see EUROPE 12491/2)), the fight against air, soil and water pollution (the action plan for zero pollution is being developed), and the forthcoming initiatives under the second Circular Economy Action Plan (see EUROPE 12552/7, 12444/1).
“Our current levels of consumption of raw materials, energy, water, food, and land use are unsustainable. We need to change the way we treat nature, produce and consume, live and work, eat and heat, travel and move. So we will tackle everything from dangerous chemicals to deforestation and pollution”, she said.
The presentation of the Sustainable Chemicals Strategy is expected on 14 October.
A legislative proposal for a sustainable product policy initiative is scheduled for 2021 as part of the new Circular Economy Action Plan.
Read Mrs von der Leyen’s State of the Union speech: https://bit.ly/3iBviKK (Original version in French by Damien Genicot and Aminata Niang)