On Tuesday 2 July, the European Climate Neutrality Observatory (ECNO) published its second report on the European Union’s progress towards climate neutrality. This document, intended for political decision-makers, assesses the state of progress in the EU and provides recommendations for achieving the target set for 2050.
According to the report, although there are promising signs in terms of indicators and policies, the pace of transition remains insufficient.
Of the 124 indicators analysed, more than two-thirds show positive trends. For example, the share of electric vehicles in new registrations rose to 25% in 2023, compared with 18% in 2022. In addition, installed solar energy capacity increased by 20% between 2022 and 2023 and the number of jobs in the renewable energy sector rose by 15%.
However, fossil fuel subsidies tripled in 2023, reaching €30 billion, compared with €10 billion in 2022. The rate of building renovation is also still too slow, with only 1.5% of buildings renovated in 2023, compared with the target of 3%. In addition, natural carbon sinks, such as forests, continue to decline.
ECNO calls for an acceleration in the implementation of existing policies, particularly at Member State level. This includes support for the integration of renewable energies and the development of the necessary infrastructure.
In addition, to finance the transition, a long-term EU financing plan is advocated to redirect financial flows towards sustainable investments and gradually eliminate fossil fuel subsidies.
ECNO also recommends strengthening mechanisms to attract private funding.
The transition must be socially just and involve citizens, in order to maintain public support. This means creating employment opportunities and training programmes, as well as making sustainable lifestyles accessible.
ENCO believes that European industry also needs to be prepared. Additional EU funding and improved green public procurement frameworks could accelerate the industrial transition. Coherent national energy and climate plans are also needed.
Finally, ECNO calls for increased investment in carbon removals in the face of declining natural carbon sinks, and for improved global climate action through international financing and diplomacy.
The document: https://aeur.eu/f/cxe (Original version in French by Nithya Paquiry)