EU sets out plan to become first major economy to be carbon-neutral by 2050

The European Union yesterday unveiled a long-term vision on climate change that aims to transform the bloc into the first carbon-neutral major economy by 2050.

Under the plan, remaining emissions of greenhouse gases must be offset. The EU’s strategy comes a week before the leaders of almost 200 countries meet in Poland for an annual United Nation’s conference on climate change.

US President Donald Trump this week dismissed his own government’s warnings on the costs of global warming.

“One thing is certain: the status quo is not an option any more,” Climate Action and Energy commissioner Miguel Arias Canete said as he presented the road map that details the EU’s emission target.

“We cannot afford the price of inaction,” he said.

The EU accounts for 10 per cent of global greenhouse gas emissions, more than 75 per cent of which are caused by fossil fuels.

Mr Canete said the bloc aims to reduce its greenhouse emissions by 80 per cent of its 1990 level by 2050. It will do this by investing in technological solutions to curb warming and aligning action in key areas such as industrial policy, finance, or research, he said.

Remaining emissions will have to be counteracted by planting trees and pumping carbon dioxide underground to form carbonate minerals. New research into carbon capture and storage suggests such technologies – which transform gases into carbonate minerals – will be essential in keeping temperature increase below the 1.5°C threshold recommended by the IPCC Special Report this year.

The EU, which increased renewable energies from 9 per cent in 2005 to 17 per cent today, is now aiming to bring this share to 32 per cent of the bloc’s final energy consumption by 2030. This, Mr Canete said, is possible and economically convenient.

Europe depends on imports to satisfy 55 per cent of its energy needs. Bringing down imports to 20 per cent by 2050 would save €266 billion (Dh1.1 trillion) and positively affect the EU’s geopolitical position. The cumulative savings could reach €2tn to €3tn over the period 2031 to 2050, which could be invested in the further modernisation of the EU economy.

The commissioner said this shift must take social fairness into account so as not to “leave anyone behind”. The French protest movement known as “gilets jaunes” skirmished with police in the French capital in response to a tax on fuel adopted as a measure to protect the environment.

“Taxes are not the only [option],” Mr Canete said when prompted to comment on the road map’s implementation. Economic incentives and the creation of jobs in the renewable energy sector will be a boon to the economy, he said.

The EU believes the target can be met with existing technologies such as solar and wind energy, which would have to be ramped up. Energy efficiency measures such as home insulation would also need to be improved.

Each of the 28 member states will now have to prepare an action plan detailing their own path towards the goal. The European Commission will then evaluate each plan and conduct periodic assessments to ensure its implementation.

Whether the EU will reach 2050 free of greenhouse emissions is debatable. The document the bloc will present next week in Poland sets out eight scenarios for member states to cut warming gases – only two of which foresee Europe becoming climate neutral.

But Mr Canete expressed confidence in the system of checks and balances in place to guarantee that the goal is met. “I am proud to be European,” he said. “If we succeed, others will follow.”