The ‘European Climate Stocktake’ event, organised on Friday 27 October in Brussels by the European Commission’s Directorate-General for Climate Action, brought together a number of players in the fight against climate change to take stock the European Union’s progress towards the objectives of the Paris Agreement. With the COP28 on the horizon and the first global assessment, this meeting provided an opportunity to take stock of progress in the energy transition, emission reduction measures and preparedness for climate impacts.
Speakers agreed that stepping up the EU’s efforts requires the full and effective implementation of legislation, as well as investment in renewable energies and clean technologies. Preparing for the impacts of climate change is also essential, requiring robust adaptation strategies and careful planning. In addition, funding remains a major challenge, particularly for less developed countries. The EU aims to be a key player in the global climate debate, not only through its emission reduction commitments, but also through its role in financing mitigation and adaptation measures worldwide.
A 90% reduction in emissions by 2040. The European Commissioner for Climate Action, Wopke Hoekstra, opened the debates, highlighting the urgent need to take action to limit global warming to 1.5°C. He reiterated the EU’s commitment to a net reduction of at least 90% in greenhouse gas emissions by 2040. This ambitious target is in line with the EU’s willingness to lead by example, recognising that its emissions represent only 7% of the world total. Mr Hoekstra also stressed the need for concerted global action to triple the world’s renewable energy capacity and double energy efficiency by 2030, agree to phase out fossil fuels and ensure that fossil fuel consumption peaks before 2030.
Paradigm shift in the energy sector. Laura Cozzi, Director of Sustainability, Technology and Outlooks at the International Energy Agency, demonstrated that since 2015 there has been a paradigm shift in the use of fossil fuels. Solar and wind technologies and electric vehicles have become major players in reducing emissions. She emphasised the need to focus efforts on these existing technologies to achieve the 1.5°C target. Ms Cozzi also stressed the importance of investment in clean technologies, a fast-growing sector, and called for greater equity in the financing of energy transitions in emerging economies.
The need to adapt to extreme events. The Executive Director of the European Environment Agency, Leena Ylä-Mononen, focused her speech on the climate situation in Europe. She noted significant progress, with a 31% reduction in net emissions in 2022 compared with 1990. However, to achieve the 55% reduction target by 2030, the EU needs to step up its efforts.
The energy transition requires a massive increase in the use of renewable energies and a significant reduction in energy consumption. At the same time, Ms Ylä-Mononen stressed the importance of adapting to climate change, particularly in view of the increase in extreme weather events. (Original version in French by Nithya Paquiry)