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The EU is working on an ambitious plan to fully decarbonise by 2050, and increasing the share of renewable electricity in Europe's energy system will be at the heart of
this strategy.
The EU said that fossil fuels should no longer be the main energy source, heating houses, heating food or powering cars, but more new energy vehicles, electric heating and renewable energy to reduce carbon dioxide emissions
.
It is reported that the EU's 2050 decarbonization proposal is expected to be approved
by EU leaders next month.
Among them, Poland and other Eastern European countries that rely on fossil fuels such as coal will have fewer
obstacles if they can obtain financial assistance from the Just Transition Fund.
Incoming European Commission President Ursula von der Leyen has pledged to announce a "European Green Deal" within the first 100 days of his tenure aimed at bringing the EU to its 2050 targets
.
Financing issues
The European Commission will try to address the challenge of financing the energy transition through two instruments: dedicated climate finance in the EU budget and dedicated climate loans
from the European Investment Bank.
The European Commission said: "The EIB will play an increasingly important role
in the future.
We hope to see an agreement with the EIB Council in the coming months so that there are clear operators in the EIB to support the green energy transition
.
We are looking for financing of around €400 billion per year
.
”
The European Commission's proposed dedicated climate spending in the next seven years must still be approved
by 28 EU governments.
Juul-Jørgensen, a senior EU official, said, "The amount is agreed: 25%
of the budget.
But there is disagreement
over how to determine what constitutes green spending.
”
The EU is working on an ambitious plan to fully decarbonise by 2050, and increasing the share of renewable electricity in Europe's energy system will be at the heart of
this strategy.
The EU said that fossil fuels should no longer be the main energy source, heating houses, heating food or powering cars, but more new energy vehicles, electric heating and renewable energy to reduce carbon dioxide emissions
.
It is reported that the EU's 2050 decarbonization proposal is expected to be approved
by EU leaders next month.
Among them, Poland and other Eastern European countries that rely on fossil fuels such as coal will have fewer
obstacles if they can obtain financial assistance from the Just Transition Fund.
Incoming European Commission President Ursula von der Leyen has pledged to announce a "European Green Deal" within the first 100 days of his tenure aimed at bringing the EU to its 2050 targets
.
Financing issues
The European Commission will try to address the challenge of financing the energy transition through two instruments: dedicated climate finance in the EU budget and dedicated climate loans
from the European Investment Bank.
The European Commission said: "The EIB will play an increasingly important role
in the future.
We hope to see an agreement with the EIB Council in the coming months so that there are clear operators in the EIB to support the green energy transition
.
We are looking for financing of around €400 billion per year
.
”
The European Commission's proposed dedicated climate spending in the next seven years must still be approved
by 28 EU governments.
Juul-Jørgensen, a senior EU official, said, "The amount is agreed: 25%
of the budget.
But there is disagreement
over how to determine what constitutes green spending.
”
