To align with the Paris Agreement, the European Commission’s 2030 Climate Target Plan has recommended that the EU reduces emissions by 55 percent by 2030 (relative to 1990 levels) and achieve climate neutrality by 2050. An essential requirement for achieving these goals is that the EU and its Member States redouble their efforts to support a clean transition in the industrial sector.
Industry accounts for approximately 20 percent of the EU’s net annual CO2 emissions, with the bulk of these coming from energy-intensive sub-branches, such as cement, steel and chemicals. To achieve the European Commission’s proposed new climate targets, industry must reduce emissions by between 22 and 25 percent by 2030 and between 90 and 100 percent by 2050, all relative to 2015 levels. Before 2030, a large portion of Europe’s industrial installations will be up for major reinvestment decisions. Since these are investments in very long-lived capital assets, the EU must make the most of the opportunity to put these sites on a pathway to climate neutrality by 2050.
In this context, Agora Energiewende published two new studies: The first study, entitled “A Clean Industry Package for the EU” identifies eleven key policy ideas that can be implemented by this European Commission and Parliament to kick-start the transition to climate neutral industry in the EU. A second publication which was published 18 November highlights the specific technology and abatement options the industry has to contribute to a new EU -55 percent climate target by 2030 (both publications can be found in the section "All content" below).
The online event on 18 November was an opportunity to present the results of both studies and discuss perspectives on specific policy needs from the EU level as part of European Green Deal in 2021. Key questions included:
- What climate neutral-compatible solutions can industry use to contribute its share of a -55 percent EU climate target in 2030?
- What would a genuinely transformative “clean industry package” need to look like to kick-start investments in key low-carbon and circular economy technologies before 2030?
- What combination of options is available to avoid carbon leakage under higher EU ETS carbon prices?
The two-hour event tookes place in English.
The full programme with the majority of panelists confirmed can be found in the download section below.
The presentation can be found in the download section below.
The recording can be found above.