Europe, the long-time global leader on climate change and clean energy, emerges as a rare bright spot in this year’s World Energy Market Observatory.
2018 marked a record year, with a 2.5% CO2 emissions reduction in Europe. Overall the EU is on track to meet its 2020 greenhouse gas targets, establishing itself as a clear leader in decarbonization as emissions elsewhere in the world continue to rise. However, projections show that Europe is far from reaching long-term targets and that deep transformation of the energy, transport and manufacturing sectors will be necessary to meet 2030 and 2050 goals.
Compounding matters, the region’s mid-term energy and climate goals are tied to ambitious renewables deployment plans and related grid investments, the delay of which could destabilize energy supply as traditional energy facilities are taken off-line.
Thus, while the region remains a champion of climate change initiatives and green energy use, the long-term success of these efforts is far from assured and additional action must be taken to continue the current trajectory.
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