On Wednesday 4 September, the think tank Bruegel announced a series of recommendations for the next European Commission, particularly concerning the EU’s competitiveness (see EUROPE 13475/3). In this memo for EU decision-makers, a specific section is devoted to the direction that the EU’s energy, climate and environment policy should take over the next 5 years.
Energy. Bruegel researchers are calling on the next European Commissioner for Energy to coordinate and encourage investment in the massive electrification of Europe between now and 2040. According to Bruegel, the EU will have to devote 3% of its annual GDP to energy-related investment (excluding transport), compared with 1.7% over the period 2011-2020.
The researchers also call for a specific fund to be set up for the development of the EU’s electricity grids (see EUROPE 13475/5) and for the launch of a coordinated EU strategy to manage the remaining energy trade with Russia.
The memo goes on to call for the foundations to be laid for a ‘Fit for 90’ policy architecture, including legislative proposals to achieve a 90% reduction in greenhouse gas emissions by 2040 compared to 1990 (see EUROPE 13433/6) and the creation of a European Energy Agency.
Similar to the International Energy Agency (IEA), this European agency would be tasked with providing targeted data to policy-makers and investors to facilitate negotiations and ensure a more transparent policy-making process.
Climate. On the climate front, despite the ambitious targets for 2030 and 2050, the memo condemns the fact that the transition to a green economy is progressing too slowly, particularly in the transport, construction and agriculture sectors.
The document also notes the need to accelerate efforts, while taking account of social impacts, with the introduction of a ‘green social contract’. It also proposes new measures for adapting to increasingly frequent climatic disasters.
On the international stage, the researchers recommend strengthening climate diplomacy and increasing funding for emerging countries. These initiatives should enable the EU to maintain its industrial competitiveness while assuming its role as a leader in the fight against climate change.
The memo also calls for closer links between the environment and the EU’s main economic objectives, by promoting measures to preserve biodiversity, reduce pollution and manage water resources. (Original version in French by Nithya Paquiry and Pauline Denys)