Page 7 - European Energy Innovation - summer 2020 publication
P. 7
Summer 2020 European Energy Innovation 7
EUROPEAN GREEN DEAL
more efficient, smarter, and better and smart energy infrastructure to
integrated now, during this crisis, safeguard it. And we must pursue
we can bring deeper and lasting the diversification of our sources of
positive change. energy supply to decrease import
dependency. Natural gas, which still
Making the European Green Deal a constitutes almost one quarter of the
reality will also depend on funding EU’s energy mix, has a role to play
the necessary investment – and the in the medium term, as a substitute
smartest combination of public and for more polluting sources like coal,
private finance. Just to meet our lignite or oil shale. Ultimately though,
2030 climate and energy targets, we the gas we use in the EU has to be
need an estimated additional €260 clean. We are already working on
billion in annual investments. Public creating an environment where clean
money alone cannot foot this bill. In gases can have a significant presence
fact, we will have to rely primarily on in the EU gas sector.
the private sector.
To conclude, we know that moving
By setting clear long-term goals, we towards a climate-neutral green
are already reducing the risks for economy by mid-century will be a
investors. Public spending can also challenging and long journey and that
play an important role in leveraging the energy sector must contribute.
private support and providing But we are starting from the common
guarantees. In this context, the foundation of the Energy Union and
Commission has already put forward we are more efficient and stronger
a Green Deal Investment Plan, which, by joining forces at EU level. This is
over the course of the decade, can a real opportunity for Europeans.
generate as much as €1 trillion to The European Green Deal is the EU’s
fund sustainable projects. recovery and growth strategy: together
with the digitalisation of the EU, we will
Our efforts must not endanger the increase our strength and resilience
security of energy supply that we and be ready for future crises, whilst
enjoy in the EU. For this, we need at the same time reducing our net
a forward-looking, modern, secure emissions to zero by 2050. ●
Making the European Green Deal a
reality will also depend on funding the
necessary investment – and the smartest
combination of public and private finance.
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