The EU has committed to climate neutrality by 2050, which means that any remaining CO2 emissions will be offset using natural carbon sinks (forests, marshes) or technologically. The reduction target for 2030 is 55%, and the EC already in February this year. will indicate an interim target for 2040.
- The 2030 greenhouse gas emissions reduction target is 55%, and the Commission is expected to propose an appropriate interim target for 2040 next month.
- The EU’s independent scientific advisory board has determined that greenhouse gas emissions reductions must be at least 90% by 2040 to stay on track to the net zero target by 2050.
- The European Commission has rejected any 2040 emissions reduction target below 75% as tantamount to going backwards. She described the target above 95% as unachievable by 2040.
- The European Commission has created three scenarios for reducing greenhouse gases to 80%, 85-90% and 90-95% by 2040. A target of 90% would mean an increase in the share of renewable energy in the EU basket to 73% by 2040.
The EU’s greenhouse gas reduction target will not be lower than 90% by the end of 2024?
Businesses, climate campaigners and local governments have urged the European Commission to propose cutting greenhouse gas emissions to one tenth of 1990 levels, while a leaked impact assessment suggests this is just one of the scenarios being considered by the EU Commission as it plans an interim greenhouse gas emissions target. path to net zero by 2050
The 2030 greenhouse gas emissions reduction target is 55%, and the Commission is expected to propose an appropriate interim target for 2040 next month.
The EU’s independent scientific advisory board has determined that greenhouse gas emissions reductions must be at least 90% by 2040 to stay on track to the net zero target by 2050.
Three scenarios for reducing greenhouse gas emissions by 2040 in the EU?
There is also a draft impact assessment circulating in Brussels, which was to be published on February 6 this year. together with the European Commission’s communication on the 2040 target, which has already been leaked to the media.
According to a Euronews opinion piece, the European Commission has rejected any 2040 target below 75% as tantamount to going backwards. Similarly, all targets above 95% are excluded as unfeasible by the EC until 2040.
Instead, the European Commission created three scenarios for reducing greenhouse gases to 80%, 85-90% and 90-95% by 2040. A target of 90% would mean an increase in the share of renewable energy in the EU mix to 73% by 2040.
At the same time, total energy consumption would have to fall by 34% compared to 2015, and fossil fuel consumption would fall by around 70% from current levels to the equivalent of 311 million tonnes of oil.
The EU wants to capture CO emissions2to achieve ambitious climate neutrality goals
Like the recently unveiled draft “industrial carbon management plan” to be presented with the 2040 Communication, the draft impact assessment reflects the growing importance the EC is attaching to carbon capture technologies to achieve its climate action targets.
Under three scenarios, the EC assumes as much as 222 million tons of CO by the end of the next decade2 will be routinely captured at source in industrial plants and power plants, and most will be pumped into permanent underground storage.
Unfortunately, the EU currently has almost no technological capacity to achieve this goal, but the currently negated Net Zero Industry Bill will require oil and gas companies to provide 50 MT of CO injection capacity2 by 2030. This is the Emission-Neutral Industry Act.
The Carbon Neutral Industry Act is one of the three key legislative initiatives of the Green Deal industrial plan. The other two initiatives are the Critical Raw Materials Act and the reform of the electricity market structure. Together, they are intended to increase the competitiveness of European carbon-neutral industry and support a smooth transformation towards climate neutrality.
The Carbon Neutral Industry Act sets an indicative benchmark that EU production capacity will help meet 40% of the EU’s annual needs for strategic technology products such as photovoltaic panels, wind turbines, batteries and heat pumps.
A specific target for carbon capture and storage has also been set, with an annual injection capacity of at least 50 million tonnes of CO2which should be achieved by 2030.
– .
