The EU is on track to meet its 2030 emission targets.
This is according to a recent energy policy review by the International Energy Agency (IEA), which has noted a 23% decline in greenhouse emissions from the EU in 2019 compared to 1990.
The review highlights that despite many EU members enacting policies to phase out coal use and production, greenhouse gas emissions in the transport sector are still on the rise. This is in addition to energy usage still being fossil-fuel intensive.
The IEA report recommends stronger policies to achieve targets on time and shifting the focus mainly onto the energy sector, which still accounts for 75% of the EU’s greenhouse gas emissions.
The report also notes the impact of the Covid-19 crisis on the Green Deal, which seeks to make the EU climate neutral by 2050.
Dr Fatih Birol, IEA’s Executive Director, said: “ With its recovery plans, the EU has a real opportunity to boost economic activity, create jobs and support the long-term transformation of its energy sector.”
The IEA also recommends cooperation and cross border trade amongst EU member states to achieve consolidated climate and energy targets.
Mr Birol added: “The European Green Deal represents an opportunity to strengthen economies across the continent by pooling investments in energy technologies that are likely to play a crucial role in the future. Hydrogen electrolysers and lithium-ion batteries could potentially be game-changers both for the EU and globally.”
The report maintains that the EU needs to ensure energy security and must invest in renewable energy systems.