Business statement for Binding Renewable Energy Target in 2030 Framework
The transition to a sustainable economy is a tremendous chance to boost economic growth and create new jobs while securing environmental protection. With the 20-20-20 policy framework the European Union (EU) has set a clear direction for its energy and climate policies up to 2020.
Need for direction beyond 2020
However, 2030 is already at our doorstep. Given the long investment cycles in the energy sector and the fact that investment decisions in the EUs liberalised energy markets strongly depend on reliability, certainty about the regulatory framework of the next 17 years is needed.
Need to reduce energy prices and risks
Such a framework bears the opportunity to reduce the current costs of uncertainty, mobilise the needed funding, help to protect the environment, decrease the costs of decarbonisation, facilitate the creation of new jobs and enhance the EUs technology leadership.
We, as a group of 92 European companies and associations, strongly believe that a new climate and energy framework for 2030 needs to be based on mutually reinforcing tools and targets, including a legally binding target for renewable energy, and urge all policy makers to support a strong and ambitious regulatory framework for the years to come.