Renewable energy companies call for tougher EU emissions targets

Eight energy companies have today called on the EU to set tougher targets for 2030 in order to increase investment in green technology. Currently the EU plans to cut emissions by 80% by 2050, but without a ‘half way’ target the group say this will not happen.

In a letter to the EU the group also asked for targets for renewables, and energy efficiency. "The lack of binding targets post 2020, an [Emissions Trading Scheme] failing to stimulate investment in renewables, and an outdated energy infrastructure severely threaten to wreck the needed modernisation and decarbonisation of the European energy sector and do not allow industry to create a sustainable and affordable pathway to reach the EU's decarbonisation objective," they state.

The European Commission’s Energy Roadmap 2050 was released in December, and this is seen as a response to the report. It is perhaps no surprise that companies with a heavy investment in renewables should push for a commitment to their future, but this is a clear sign that those involved are working together to lobby for a secure renewables future.

Anders Eldrup of Dong Energy, one of the signatories to the letter says, "Having a stable investment climate is critical for energy companies. This is particularly true for Dong Energy; we are in the historic process of transforming the energy mix of our company to incorporate even more renewables. Our current investment plans have a time span of a decade and more."

The problem it seems is that 2050 is a little too far away for companies to be able to work towards. A 2030 target would be within these companies’ time frames and enables them to be more certain of their futures. The current plan could allow significant emissions reductions to be reserved for after 2030, as well as continuing use of fossil fuels and nuclear energy.