Political bloc wants to source at least 32% of energy from renewable generation by 2030 and signed off on the more ambitious target as a statement of intent during the first week of the Katowice climate change conference.
The chairman of the European Energy Research Alliance says the EU must bring national research centers together in a continent-wide effort before it is too late, and the COP24 meeting needs to send out a positive message to the world.
A scenario in which no additional oil, coal or nuclear capacity is built and renewables grow at a pace of 3-4%, would see solar comprise 69% of the global electricity system by 2050. According to an EU thinktank, such an effort would boost European manufacturing, creating jobs and prosperity.
Carbon Tracker has released a report claiming it is cheaper, in many markets, to construct new renewable generation assets instead of running legacy coal-fired power plants. Billions could be saved for customers, while profits in the two-digit billion-dollar range look set to be lost by the coal industry.
As part of its Paris Agreement obligations, the EU Commission has presented a carbon-neutral vision for 2050, which encompasses GDP growth through smart investments and public health savings.
New research from institutes at the London School of Economics has found a significant gap between what countries declared they would be doing in compliance with the Paris Agreement, and what they have translated into national law three years later. As officials from around the world will flock to Poland next month to negotiate the implementation pathway of the Paris Agreement, this and other new studies draw a dark picture of current performance.
High-ranking officials from China and the EU have signed a joint statement to foster technological and political co-operation in clean energy. The regions will also develop emissions trading systems further, with officials seeing such schemes as a policy tool to foster innovation for a low-carbon economy.
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