The European Commission has released a Communication outlining a target of 90% emissions reduction by 2040.
Climate Action Network (CAN) Europe has stated that by not targeting net zero by 2040, the EU is missing a pivotal chance to access significant environmental, social and economic benefits.
Lack of political ambition and not setting science-based targets is costly in the face of the extreme climate events that have become ever more frequent, according to CAN Europe.
Both the European Scientific Advisory Board on Climate Change (ESABCC) and the European Commission’s own impact assessment have demonstrated the multiple benefits of pursuing ambitious climate policies.
“By communicating an intended 90% reduction target today, the European Commission ignores the higher end of the range recommended by its own Impact Assessment and the ESABCC (95%),” stated CAN Europe.
Chiara Martinelli, Director, CAN Europe, said: “Increased ambition is of course welcomed – but a 90% reduction target is still not enough to properly align with the 1.5°C goal.
“Real solutions to achieve net zero by 2040 are evident – we just need the political courage that matches the scale of the challenges we are facing.
“Recent research from CAN Europe indicates that aligning with a net-zero goal by 2040 now, would yield economic benefits of at least €1 trillion by 2030.
“By opting for a less ambitious stance, the European Commission is missing a golden opportunity to access these benefits.”
Responding to the 2040 target, the European Geothermal Energy Council (EGEC) stated its concern that the Communication and modelling “do not provide adequate coverage of the requirements for heat decarbonisation and overlook the vital role of geothermal heating, cooling, electricity, storage (thermal and electrical) or sustainable lithium extraction”.
Geothermal must be recognised as a key solution for the defossilised energy sector because it is local, abundant, sustainable and resilient from external supply-chain pressures, stated EGEC.
Philippe Dumas, EGEC Secretary-General, said: “It is impossible to meet the 2040 climate targets without mass deployment of geothermal, this unique renewable energy.
“Ignoring geothermal has resulted in an expensive and doubtful modelling exercise rather than the inclusive, rapid and cheapest pathway to climate neutrality.”