FRANS TIMMERMANS
VICE-PRESIDENT OF THE EUROPEAN COMMISSION
Russia’s war on Ukraine has shaken up the energy markets across Europe. How has this impacted the continent’s green transition plans?
For the short-term, we are focusing on alternative supplies of gas as well as on energy savings. In parallel, we are ramping up the rollout of renewables. Now, just seven months later, only 9% of our gas comes from Russia, compared to 40% previously. Putin’s manipulation of energy markets has caused energy prices in the EU to soar, making life for millions of families and businesses across the continent increasingly difficult. But this has not affected our long-term climate targets. Europe’s greenhouse gas (GHG) reduction targets for 2030 and 2050 are fixed in law, and we are aiming to finalize negotiations on their implementation by the end of the year.
It is true that in the immediate future, we are seeing more coal use than initially projected, but European citizens and governments know that the era of cheap fossil fuels is over, and that renewables are the only lasting solution to make us immune to Russia’s energy blackmail. So when it comes to our green transition, the European Union is not only staying the course, we are accelerating.