{"id":66447,"date":"2024-07-05T10:36:59","date_gmt":"2024-07-05T08:36:59","guid":{"rendered":"https:\/\/www.i4ce.org\/?p=66447"},"modified":"2024-07-05T10:42:31","modified_gmt":"2024-07-05T08:42:31","slug":"after-five-years-green-deal-where-europe-road-decarbonisation-climate","status":"publish","type":"post","link":"https:\/\/www.i4ce.org\/en\/after-five-years-green-deal-where-europe-road-decarbonisation-climate\/","title":{"rendered":"After 5 years of the Green Deal, where is Europe on the road to decarbonisation?"},"content":{"rendered":"<p><strong>Following the European elections on June 9, the EU is adapting to a new, more conservative, political reality. Yet despite changing political tides, a new EU leadership will still need to find a credible answer to how the continent is to reach climate neutrality by 2050. To understand how to get there, we need a clear understanding of the progress already made. This is where the European Climate Neutrality Observatory (ECNO) comes in.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>ECNO, led by a consortium of five European think tanks, including I4CE, tracks the EU\u2019s progress towards decarbonisation across a range of \u201cbuilding blocks\u201d &#8211; from electricity to mobility, adaptation to the just transition. In this year\u2019s flagship report (released this week), some of the strongest progress has been seen in the domain of cleantech, as Europe races to build up its domestic manufacturing of the technologies needed to decarbonise.<\/p>\n<p>&nbsp;<\/p>\n<p>Private investment in cleantech has hit record highs, while the EU\u2019s domestic manufacturing of batteries has seen average growth of 131% annually since 2021. Meanwhile, in another area of <strong>I<span style=\"color: #ff0000;\">4<\/span>CE<\/strong>\u2019s expertise, aligning the financial flows with climate goals, we see a different story. With fossil fuel subsidies growing in recent years and showing no sign of being phased out, and the climate investment deficit still significant, there is still much to do to redirect financial flows to decarbonise Europe.<\/p>\n<p>&nbsp;<\/p>\n<p>With fossil fuel subsidies showing no sign of being phased out, and banks failing to make clear, transparent commitments to aligning their operations with climate action, there is still much to do to get this all-important sector to pull its weight when it comes to Europe\u2019s decarbonisation.<\/p>\n<p>&nbsp;<\/p>\n<p>ECNO, and <b><strong>I<span style=\"color: #ff0000;\">4<\/span>CE<\/strong><\/b>, don\u2019t only track progress. It is critical to look ahead to areas of action for\u00a0the next five years. Whether it is <a href=\"https:\/\/www.i4ce.org\/en\/publication\/i4ces-recommendations-european-banking-authority-prudential-transition-plans-climate\/\" target=\"_blank\" rel=\"noopener\" data-auth=\"NotApplicable\">aligning banking transition plans<\/a>\u00a0with climate goals, or\u00a0targeting EU funds towards the <a href=\"https:\/\/www.i4ce.org\/en\/publication\/the-sharpest-tool-in-box-how-to-strenghten-eu-innovation-fund-for-climate-competitiveness-and-security\/\" target=\"_blank\" rel=\"noopener\" data-auth=\"NotApplicable\">competitiveness of our green industry<\/a>\u00a0and <a href=\"https:\/\/www.i4ce.org\/en\/publication\/is-transition-accessible-households-climate\/\" target=\"_blank\" rel=\"noopener\">protecting citizens affected by the transition<\/a>, there is much to be done<strong>\u00a0<\/strong>to help close the EU\u2019s <strong><a href=\"https:\/\/www.i4ce.org\/en\/publication\/european-climate-investment-deficit-report-investment-pathway-europe-future\/\" target=\"_blank\" rel=\"noopener\" data-auth=\"NotApplicable\">Climate Investment Deficit<\/a>.<\/strong>\u00a0As we enter a critical phase for climate action, where policy must now translate into results, ECNO\u2019s annual progress tracking and full suite of recommendations makes clear where we have a good foundation to build on \u2013 and where an ambitious change of direction is sorely needed.\u00a0<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/mailchi.mp\/i4ce\/i4ce-newsletter-semaine-04-667176\" class=\"external_link \" target=\"_blank\">Read the newsletter<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following the European elections on June 9, the EU is adapting to a new, more conservative, political reality. Yet despite changing political tides, a new EU leadership will still need to find a credible answer to how the continent is to reach climate neutrality by 2050. To understand how to get there, we need a clear understanding of the progress already made. This is where the European Climate Neutrality Observatory (ECNO) comes in.<\/p>\n","protected":false},"author":9,"featured_media":63732,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[16],"tags":[],"class_list":["post-66447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreword-of-the-week"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>After 5 years of the Green Deal, where is Europe on the road to decarbonisation? - I4CE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.i4ce.org\/en\/after-five-years-green-deal-where-europe-road-decarbonisation-climate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"After 5 years of the Green Deal, where is Europe on the road to decarbonisation? - I4CE\" \/>\n<meta property=\"og:description\" content=\"Following the European elections on June 9, the EU is adapting to a new, more conservative, political reality. Yet despite changing political tides, a new EU leadership will still need to find a credible answer to how the continent is to reach climate neutrality by 2050. To understand how to get there, we need a clear understanding of the progress already made. This is where the European Climate Neutrality Observatory (ECNO) comes in.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.i4ce.org\/en\/after-five-years-green-deal-where-europe-road-decarbonisation-climate\/\" \/>\n<meta property=\"og:site_name\" content=\"I4CE\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-05T08:36:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-05T08:42:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.i4ce.org\/wp-content\/uploads\/2023\/09\/Ciaran_a-la-une-v2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1507\" \/>\n\t<meta property=\"og:image:height\" content=\"899\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Sacha Poree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@I4CE_\" \/>\n<meta name=\"twitter:site\" content=\"@I4CE_\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sacha Poree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.i4ce.org\\\/en\\\/after-five-years-green-deal-where-europe-road-decarbonisation-climate\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.i4ce.org\\\/en\\\/after-five-years-green-deal-where-europe-road-decarbonisation-climate\\\/\"},\"author\":{\"name\":\"Sacha Poree\",\"@id\":\"https:\\\/\\\/www.i4ce.org\\\/#\\\/schema\\\/person\\\/019647dfff6cbbde1a8f49ae7edf6346\"},\"headline\":\"After 5 years of the Green Deal, where is Europe on the road to decarbonisation?\",\"datePublished\":\"2024-07-05T08:36:59+00:00\",\"dateModified\":\"2024-07-05T08:42:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.i4ce.org\\\/en\\\/after-five-years-green-deal-where-europe-road-decarbonisation-climate\\\/\"},\"wordCount\":423,\"publisher\":{\"@id\":\"https:\\\/\\\/www.i4ce.org\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.i4ce.org\\\/en\\\/after-five-years-green-deal-where-europe-road-decarbonisation-climate\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.i4ce.org\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/Ciaran_a-la-une-v2.png\",\"articleSection\":[\"Foreword of the week\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.i4ce.org\\\/en\\\/after-five-years-green-deal-where-europe-road-decarbonisation-climate\\\/\",\"url\":\"https:\\\/\\\/www.i4ce.org\\\/en\\\/after-five-years-green-deal-where-europe-road-decarbonisation-climate\\\/\",\"name\":\"After 5 years of the Green Deal, where is Europe on the road to decarbonisation? 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