The European Union has proposed new energy and climate objectives to be met by 2030, in order to cut its greenhouse gas emissions by 80-95% by 2050. The three main objectives by 2030 are cutting by 40% greenhouse gas emissions (compared to 1990 levels), reaching a share of at least 27% of renewable energy consumption, and improving energy efficiency (no specific target at this point).
Existing policies are expected to deliver a 32% reduction in greenhouse gas emissions by 2030. The EU level target must be shared between the ETS and what the Member States must achieve collectively in the sectors outside of the ETS. The ETS sector would have to deliver a reduction of 43% in GHG in 2030 and the non-ETS sector a reduction of 30% both compared to 2005. In order to bring about the required emissions reduction in the ETS sector, the annual factor by which the cap on the maximum permitted emissions within the ETS will have to be increased from 1.74% currently to 2.2% after 2020. As a part of the proposal, the commission will also seek to reform its Emission Trading System (ETS).
Where renewables are concerned, the Commission expects that the share of renewable energy in the electricity sector will increase from 21%
today to at least 45% in 2030. It will not enact new targets for renewable energy or the greenhouse gas intensity of fuels used in the transport sector or any other sub-sector after 2020. While binding on the EU, the 27% renewable target would not be binding on the Member States individually but would be fulfilled through clear commitments decided by the Member States themselves.
The European Commission will also seek to improve energy efficiency, which makes an essential contribution to all of the major objectives of
EU climate and energy policies: improved competitiveness; security of supply; sustainability; and the transition to a low carbon economy. A 25% target will be discussed later in 2014.