Climate in the European Union

By defining a climate target for 2040 in line with the recommendations of the European Scientific Advisory Board, the EU can provide citizens, authorities and businesses with the clarify needed to plan for and invest in the green transition. The first EU climate risk assessment demonstrated the severe strategic and security risks linked to climate impacts. The EU needs to boost climate resilience governance as a matter of urgency. 

The upcoming Clean Industrial Deal should future-proof industry and cement EU technological leadership for the benefit of European workers, citizens and regions. For this to succeed, the EU must grow green lead markets through green private and public procurement standards, guarantee access to cheap renewable energy and improve EU-wide infrastructure planning. 

The fastest way to energy security is to decarbonise the power sector and electrify the economy on a clear timeframe. This requires an EU Taskforce on Transition Stability, fast deployment of electricity grid flexibility solutions and improved infrastructure planning with spatial considerations integrating electricity, hydrogen and CO2 infrastructure. The EU should also harness the energy import saving potential from building decarbonisation. 

An ambitious green and social deal is the best insurance against cost-of-living shocks caused by fossil fuel price volatility and by devastating climate impacts. To achieve fairness in the green transition, the EU social model needs future-proofing and a robust just transition strategy including social conditionalities attached to the Clean Industrial Deal. 

An estimated additional €620bn per year in investments is needed to achieve decarbonisation by 2050 in the EU. The next Multi-Annual Financial Framework requires additional funding to support the increased sustainability and security investments needs of the EU. Investment needs also require mobilising private finance and shifting investments into green economic activities through a strong sustainable finance framework and clear end-dates for environmentally harmful subsidies. 

In response to global geopolitical shifts, the EU must develop a coherent strategy that aligns competitiveness, economic security, and the clean transition, underpinned by an updated review of the EU’s strategic interests. Clean transition partnerships with emerging economies are an important element of such an integrated strategy. To reinforce Europe’s credibility and global climate leadership, the EU needs to submit a strong NDC ahead of the crucial COP30.