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For the European Union, the estimated investment needed to implement the Green Deal would require a total annual investment in the 2021-2030 period of approximately 1,285 billion per year, equal to 8% of GDP of the EU in 2022. The setting up of a European energy and climate fund is therefore legally and technically feasible, and should be a decisive theme of political debate, particularly in light of the upcoming European Parliamentary elections and the renewal of the Commission.
The NECP provides a framework for EU Member States to implement their emission reduction commitments for a ten-year period. These must be aligned with the Paris Agreement. The current revision of the NECP must be built on the target of reducing emissions by at least 55% by 2030, compared to 1990 levels, as detailed in the Fit for 55 package. The NECP should thus include the strategy to align with the EU’s collective target for 2030, as well as achieving net-zero emissions by 2050.
This report includes assumptions and results of the simulations regarding an essentially decarbonised power system by 2035, with an intermediate step to 2030. This document contains proposals mainly in terms of production and technologies.
For the European Union, the estimated investment needed to implement the Green Deal would require a total annual investment in the 2021-2030 period of approximately 1,285 billion per year, equal to 8% of GDP of the EU in 2022. The setting up of a European energy and climate fund is therefore legally and technically feasible, and should be a decisive theme of political debate, particularly in light of the upcoming European Parliamentary elections and the renewal of the Commission.
The NECP provides a framework for EU Member States to implement their emission reduction commitments for a ten-year period. These must be aligned with the Paris Agreement. The current revision of the NECP must be built on the target of reducing emissions by at least 55% by 2030, compared to 1990 levels, as detailed in the Fit for 55 package. The NECP should thus include the strategy to align with the EU’s collective target for 2030, as well as achieving net-zero emissions by 2050.
This report includes assumptions and results of the simulations regarding an essentially decarbonised power system by 2035, with an intermediate step to 2030. This document contains proposals mainly in terms of production and technologies.