Dienstag, 20.08.2019 18:25 Uhr

The European Union climate policy

Verantwortlicher Autor: Carlo Marino Rome , 15.07.2019, 11:10 Uhr
Nachricht/Bericht: +++ Politik +++ Bericht 4461x gelesen

Rome [ENA] The European Union is pursuing a dynamic climate policy and has integrated an important amount of renewable technologies, such as solar and wind, into the existing energy system. These efforts have been successful and continuing along this path and increasing renewables and improving energy efficiency would not require substantial policy shifts. But the European Union now needs a much deeper energy transformation

to decarbonize in line with the Paris agreement and to seize the economic and industrial opportunities offered by this global transformation. European Union has to develop its own approach to energy competitiveness and security, because it has neither the United States’ shale potential nor China’s top-down investment possibilities. A completely developed energy transition is economically and technically feasible, with most of the technologies now available and technology costs declining. The cost of the transition would be similar to that of maintaining the existing system, if appropriate policies and regulations are put in place. In short, the EU could benefit from deep decarbonization regardless of what other economies around the world

do. The transition can also be socially acceptable, if the correct policies are put in place to control and alleviate the distributional effects of deeper decarbonization. The present time to act is apt, because energy is a rigid system in which infrastructure and regulatory changes take more or less a decade to be completely implemented, while competition is not sleeping, as Chinese solar panels and the rise of the electric vehicles industry clearly show. Policy choices made up to 2024 will define the shape of the EU energy system by 2050.

At the moment, five large economies are responsible for more than half of the world's emissions: China, India, Japan, Russia, and the US. The world's fate lies in their hands. Of these five, the US has the highest emissions per person, with China's per capita emissions, for example, less than half of the US level. The other four countries are sticking to the Paris Climate Agreement, a commitment they restated at the G20 Summit. Only USA has declared the intention to pull out.

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