The ambitious European climate objectives for 2030 have “lead in the wing”, warned on Monday the Court of Auditors of the EU, for which “little elements” prove that the actions and funding planned will be sufficient to achieve them. . The European Union’s (EU) climate plan foresees a 55% reduction in greenhouse gas emissions compared to 1990 by 2030, accompanied by energy efficiency gains and a binding target of 42.5% renewables in energy consumption.
Admittedly, the EU has on the whole achieved the climate and energy objectives that it had set for 2020. But “it succeeded in particular thanks to external factors”, such as the 2009 financial crisis and the Covid-19 pandemic. which have reduced consumption and CO2 emissions, notes the Court in a report. “Concern hovers” over the years to come: “We found little evidence to suggest that the ambitious 2030 targets will result in sufficient action. There is no indication that sufficient funding will be available,” notes the Luxembourg-based institution.
Less than 10% of the investments required
In its previous 2014-2020 budget, the EU was supposed to devote 20% to the climate, but according to the auditors, only 13% was actually dedicated to it. From now on, the EU has committed to devote at least 30% of its 2021-2027 budget to climate action, i.e. 87 billion euros per year. Even if it is respected, “this amount represents less than 10% of the total necessary investments, estimated at 1,000 billion annually. The rest should come from national and private funds,” the report says.
However, there is no assurance on the latter, for lack of details: the data available on investment needs and sources of financing “are not sufficient to determine whether national (climate) plans provide a solid basis” for 2030, deplores the Court. “These plans don’t say much about how to close the (funding) gap. Many signals do not make us optimistic, it is clear that more effort is needed, ”observed auditor Lorenzo Pirelli to the press.
Lack of transparency
Major pitfall: “the lack of transparency” due to the “flexibilities” granted to States to achieve their national objectives. To reach the target levels for 2020, several countries have thus had to buy emission quotas or shares of renewable energy from other States which had exceeded their objectives. In April 2023, France had not yet bought the missing shares to reach its renewable target, a unique case in the EU.
Another source of concern: “the national plans are not ambitious enough” to achieve the collective objective of energy efficiency that the Twenty-Seven have set themselves at EU level. Finally, the Court recommends accounting for all greenhouse gas emissions generated by the EU, including those linked to imported goods as well as air and maritime transport. If the latter were included, EU emissions would increase by around 10%, the report estimates.
More generally, “the EU must have effective processes for collecting data and monitoring progress, so that we do not move blindly”, warns Eike Karola Velten, of the Ecologic Institute in Berlin, author main part of the report.