New Energy research report from GlobalData is now available from Fast Market Research

Boston, MA -- (ReleaseWire) -- 05/16/2014 --The European Union's (EU) 20-20-20 targets are a set of three binding measures imposed on member states as part of the EU's climate and energy package. To meet 20-20-20 targets, member states must reduce Greenhouse Gas (GHG) emissions by 20% by 2020 in comparison to 1990 levels; ensure a 20% increase in the share of renewable in the power mix by 2020 and a 20% improvement in energy efficiency.These targets have been translated into national targets for each member state, but as they are a set of common goals they must be pursued through a mix of national and EU actions. The measures implemented to help to achieve the 2020 targets are a reform of the European Union Emission Trading System (EU ETS), national targets for renewable generation, and a legal framework for the environmentally safe use of Carbon Capture and Storage (CCS) technology to reduce emissions. The EU is on track to achieve two of its 2020 targets, but is not expected to achieve a 20% improvement in energy efficiency by 2020. A 2030 framework will allow the EU to progress towards a competitive economy and a secure energy system by creating employment opportunities and a demand for innovative, low-carbon technologies. Further steps would also assist the EU in satisfying its promise to cut GHG emissions by 80-95% by 2050. The proposed targets for the 2030 energy and climate framework are: GHG emission reduction by 40% compared to 1990 levels, an increase in the share of renewables in the power mix by 27%, and further improvements in energy efficiency. These 2030 targets have however faced criticism from environmentalists, energy companies and EU members. Environmental groups argue that the EU should have gone beyond a 40% GHG target reduction for 2030 considering that the EU is currently on track, if not ahead of schedule, to meet its 2020 targets. Energy companies such as Acciona Energia, Alstom, Enercon, ERG Renew, RES Med and Vestas agree that an overall renewable target of at least 30% will boost green growth, create 570,000 jobs and save EUR260 billion ($359 billion) in fossil fuel imports.

View Full Report Details and Table of Contents

Scope

- Measures to achieve 20-20-20 targets.
- Need for 2030 Energy and Climate Framework.
- Issues and concerns relating to 2020 and 2030 Energy and Climate Framework.

Reasons to Get This Report

- Gain insights on EU 2020 targets,issues and achievements.
- Member states participation in Energy and Climate Frameworks.
- Insights from European Commission members on EU 2030 Energy and Climate Framework.

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