- The European Union is ready to increase its renewable energy targets by 2030.
- European Council and Parliament negotiators reached a tentative deal on Thursday to get 42.5% of the 27-nation bloc’s energy from renewable technologies like wind and solar by the end of the decade, MEP Markus Pieper said via Twitter.
- Pieper described the agreement as “a good day for Europe’s energy transition”.
In response to President Vladimir Putin’s massive invasion of Ukraine, the EU has committed to weaning itself off Russian fossil fuels by 2027.
Christian Charisius | AFP | Getty Images
The European Union is poised to increase its 2030 renewable energy targets and accelerate its move away from fossil fuels as the bloc seeks to quickly cut emissions and reduce its reliance on Russia.
European Council and Parliament negotiators on Thursday reached a tentative deal to source 42.5% of the 27-nation bloc’s energy from renewable technologies such as wind and solar by the end of the decade, according to MEP Markus Pieper called via twitter.
Pieper described the agreement as “a good day for Europe’s energy transition”.
The deal is said to include an additional “indicative raise” of 2.5% to allow the block to reach a 45% stake. It is intended to replace the EU target of 32% renewable energy by 2030 in the Renewable Energy Directive, which has been in force since December 2018.
The proposal now has to be approved by the representatives of the EU member states in the Council and then in the Parliament. Such agreements are typically given with minimal changes.
The EU has announced that it will be carbon neutral by 2050. In the medium term, it wants to reduce net greenhouse gas emissions by at least 55% by 2030, which the EU calls its “Fit for 55” plan.
The “Fit for 55” package was first presented in July 2021 and aims to adapt the EU legal framework for climate and energy to the goal of climate neutrality by 2050.
Russia’s massive invasion of Ukraine since February 2022 and a subsequent energy crisis have fundamentally changed the region’s energy landscape in recent months. Bloc lawmakers have come under pressure to reconcile the region’s goals with this new reality.
In response to President Vladimir Putin’s hostilities in Ukraine, the EU has committed to weaning itself off Russian fossil fuels by 2027.
A study released in late February by independent energy think tank Ember showed that the EU’s projected installation rate of so-called clean energy technologies was on track to exceed expectations in its Fit for 55 package.
Ember analysts warned that by sticking to a low target, the EU risks destroying “the momentum” of its energy transition.
The burning of fossil fuels such as coal, oil and gas is the main driver of the climate crisis.
— CNBC’s Anmar Frangoul contributed to this report.