EU Member States set 2040 climate target – but is the Union on track for 2030 in the energy sector?
An outlook on EU investment needs for the energy transition and the EU’s 2040 climate target.
Just before the start of COP30 in Belém, EU Member States agreed to reduce net greenhouse gas emissions by 90% in 2040 compared to 1990 levels, including a 5% flexibility through international carbon credits.
While this target provides medium-term visibility, a first milestone for 2030 is currently ahead. By then, Member are expected to reduce their emissions by 55% compared to 1990 levels. With only five years remaining, it is worth assessing whether the current pace of climate-related investment is sufficient to achieve the EU’s 2030 targets.
In its latest report, The State of Europe’s climate investment, I4CE tracks climate investments and the associated investment needs in relation to the EU’s 2030 targets. This analysis includes, among others, the energy production sector, its transport and storage, and the production of clean technologies.
