A few thoughts on the EU's very first Biennial Transparency Report on Climate published yesterday.
Read it here: https://climate.ec.europa.eu/document/download/c5925ab2-abd7-4211-80c0-bebb3ffeb9ff_en?filename=BTR_final.pdf
Read it here: https://climate.ec.europa.eu/document/download/c5925ab2-abd7-4211-80c0-bebb3ffeb9ff_en?filename=BTR_final.pdf
Comments
For reference, it took the US 10 more years to achieve a similar reduction (in %), while starting from a baseline that was less streamlined.
It’s now the biggest source of power in the EU (38%), followed by nuclear (22%).
This should improve as energy sovereignty continues to be a priority. Yet, many counter-arguments must be fought for it to happen at scale (eg, impact on the EU's coal industry, dependence on China for renewables, and stranded O&G assets).
Increased harvesting and climate stress are key drivers of this decline - reversing the trend is essential.
This stands true when accounting for imported emissions (a third of EU’s current total). Inflation is also already baked in.