The European Union and Australia reaffirmed their commitment to implementing the Paris Agreement and accelerating the global transformation to low-carbon energy, in particular through cooperation in international forums, on Thursday 4 April, in a Joint Statement presented by the European Commissioner for Energy, Kadri Simson, the Australian Minister for Climate Change and Energy, Chris Bowen, and the Australian Minister for Resources, Madeleine King.
“In light of the current geopolitical situation, we should deepen this cooperation bilaterally. Our joint statement shows the areas where we can and want to work together – from renewables and energy efficiency to hydrogen and critical raw materials and more”, said Commissioner Simson, who is visiting Australia until 8 April.
The two parties reiterated their commitment to accelerating the energy transition, including the deployment of renewable energies and the phase-out of fossil fuels, in order to achieve carbon neutrality by 2050 and keep the 1.5°C limit within reach.
They recognise the finalisation of the first Global Stocktake at COP28 and undertake to cooperate in the implementation of the global commitment to renewable energy and energy efficiency made in this framework (see EUROPE 13313/16) as well as in the release of financing for the transition to clean energy, particularly in developing countries.
To decarbonise their respective electricity systems, the EU is aiming for a 42.5% share of renewables in its gross final energy consumption by 2030, while Australia is targeting an 82% share of renewables in its National Electricity Market by 2030.
Both parties are focusing on grid infrastructure and offshore wind energy, as well as investment in solar energy and clean technology manufacturing. They also emphasise the importance of improving energy efficiency in efforts to decarbonise.
In addition, the EU and Australia recognise the importance of renewable hydrogen in the transition of hard-to-abate sectors.
On the social front, they are committed to ensuring a just transition, with a focus on the inclusion of vulnerable groups such as Indigenous Peoples, women and young people, and recognise the need to address challenges such as labour shortages and upskilling.
Furthermore, both parties recognise the importance of industrial carbon management for certain sectors, sustainable supply chains for critical minerals, the stability of global liquefied natural gas (LNG) markets and the reduction of methane emissions.
Finally, in their statement the two parties mention the ongoing negotiations for a bilateral free trade agreement, which, once finalised, would “provide a decisive boost to trade and investments in these crucial sectors, to the benefit of both economies and their respective clean energy transitions”.
To see the Joint Statement: https://aeur.eu/f/bm2 (Original version in French by Pauline Denys)