21.12.2022
EN
Official Journal of the European Union
C 486/27
4.3.
The need to invest urgently and ambitiously in the movement towards greener forms of energy produced within the EU is more important than ever.
While green energy production and energy autonomy should always be a long-term goal for the EU, the immediate context sees the EU in urgent need of affordable energy provision from alternative sources, without compromising on its energy goals.
The urgent investment needs to provide affordable energy from alternative sources for citizens could be addressed by the Climate Adjustment Fund more effectively and efficiently than existing mechanisms.
4.4.
The EESC observes with increasing clarity that energy dependency is a causal factor in weakening the EU’s responses to countries such as Russia, as seen clearly in the EU’s response to the invasion of Ukraine.
Current overdependency on Russian gas severely undermines the ability of the EU and its Member States to take swift action without putting its own citizens at risk of fuel shortages and energy poverty.
Unfortunately, plans to procure natural gas from the USA do not offer a sustainable or environmentally responsible solution (13).
4.5.
The Climate Adjustment Fund should serve as a means of funding our urgent need for EU-produced green and decarbonised energy, with ambitious procurement of existing technologies and investment in developing new technologies to achieve a zero-emission economy.
The EESC urges that the war in Ukraine must not lead to the EU’s mission of accomplishing environmental and social goals being neglected, as these form the basis for building economic strength in the long run.
4.6.
In the context of reducing energy consumption, progress varies markedly between the Member States.
In 2018, only 11 of the 27 Member States had lowered total domestic energy demand below their 2020 target.
All in all, the EU is far from reaching its 2030 targets, implying the need for additional efforts.
Fortunately, the share of renewables in gross final consumption of energy in the EU has risen steadily.
The Fit for 55 package has proposed reaching a share of 40 % of renewables in energy consumption by 2030.
While the share of renewables in energy consumption also varies substantially across the EU, so too does the capacity to produce renewable energy, owing to budgetary restrictions and geography.
In some countries, installed photovoltaic capacity per head is quite low despite high potential in this field.
Other countries achieve a high share of renewable energies due to the favourable geographical possibilities for hydropower plants.
4.7.
Stepping up efforts towards the green energy transition will go hand in hand with new funding needs, and will have to be done urgently in light of the energy crisis and the growing need for EU energy autonomy.
Boosting the Fit for 55 proposals with higher targets and earlier deadlines for renewable energy, for example by rolling out solar and wind energy and improving energy efficiency, will require a robust funding response.
The Commission announced its intention to assess these financing needs in the context of the REPowerEU proposals (14), based on a mapping of needs in the Member States as well as requirements for cross-border investment.
The EESC welcomes this, but also points to the concern that the current financing tools at EU and national level will not be sufficient and that action is needed to make renewable energy a solution now.
Climate Adjustment Fund expenditure on renewable energies should also be boosted by attracting private investment, with the fund acting as a provider of seed money.
4.8.
Scaling up investment to improve the EU’s energy autonomy should be done in line with a focus on the green and renewable energy transition.
In order to succeed, in addition to more immediate investments by way of the Climate Adjustment Fund, the EU will require significant long-term investments in research and innovation and new ways of producing and consuming, in order to improve our ability to offer clean and affordable energy to all.
The EU’s research and innovation agenda is already showing considerable commitment to this goal, with the potential to make noticeable progress.
However, this emphasis on research must be matched by a commitment by the Member States to adopt greener forms of energy production and their ability to transition away from more traditional means of energy production, particularly in Member States that still have a strong reliance on coal.
(13) (14)
U.S., EU strike LNG deal as Europe seeks to cut Russian gas | Reuters.
COM(2022) 230 final.