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Seizing the Opportunity: A Strategic Approach to Achieving the EU’s Ambitious 90% Emission Reduction Goal by 2040

ECOLOGYSeizing the Opportunity: A Strategic Approach to Achieving the EU's Ambitious 90% Emission Reduction Goal by 2040

The new European Commission goal of reducing greenhouse gas emissions by 90% by 2040 can be challenging for many countries to achieve. However, this ambitious target presents an ideal opportunity to think broadly and strategically about energy transformation. It is also a chance to discuss the need for creating a long-term support strategy that will enable the development of Polish companies and their participation in supplying technology and innovation for energy transformation. Will we seize this opportunity? Dr. Kamil Kwiatkowski, Director of Research Projects at Euros Energy, addresses this and other questions.

We Need Change

Over the last five years, climate change has caused economic damage worth around 170 billion euros, according to the European Union. The costs and the impact of changes on humans are increasing and becoming more tangible. An impact assessment carried out by the Commission indicates that, with conservative estimates, higher global warming resulting from inactivity could reduce EU GDP by about 7% by the end of the century. This warming is projected to increase fires, floods, droughts, and heatwaves– we must act accordingly.

The new climate target of the Commission – to reduce net greenhouse gas emissions by 90% by 2040 – aims to help European industry, investors, citizens, and governments make decisions this decade that will enable achieving climate neutrality goal by 2050.

However, the set goal might be challenging to achieve for many countries, including Poland. But this does not mean a defeat. It will reopen the discussion about energy transformation, but now we must think about it even more widely. It is vast potential for entrepreneurs who can contribute significantly to achieving the assumed CO2 reduction levels. They can also successfully participate in the race for technological innovations, production of renewable energy technologies, or the realization of ambitious zero-emission projects. For this, we need a well-thought-out and long-term stable support strategy – says Dr. Kamil Kwiatkowski, Director of Research Projects, Euros Energy. Many investments in the field of transformation are demanding but simultaneously represent a tremendous opportunity for our country. These actions will not happen without government support for Polish industry – he adds.

Can We Count on Anything?

In Poland, numerous programs are available for entrepreneurs and business entities planning to implement investments in renewable energy for their operations. These include the Energy Plus, BGK Ecological Credit, or Thermal Modernization Premium.

Such support, if stable and long-term, not only contributes to protecting our planet by reducing harmful emissions, but also stimulates technological innovation, creates new jobs, supports the economy, and can improve the competitiveness of Polish companies on the international stage.

Currently, many academic institutions and companies are seeking new solutions that will enable achieving greenhouse gas emission reduction goals. Such actions are also supported by subsidies. One of them is the Future Heating Plant, which is entirely based on renewable energy sources (RES) and has zero greenhouse gas emissions – says Dr. Kamil Kwiatkowski, Director of Research Projects, Euros Energy. In the context of combating climate change, and striving to achieve EU goals, such solutions are crucial, and their support should be intensified – he adds.

The Commission’s set target will now be discussed with the European Parliament and member states. Based on this, the next Commission will present legislative proposals. The setting of a climate target for 2040, will not only bring apparent economic benefits resulting from the lower risk of extreme weather events and related losses, but also additional benefits, including improved air quality and associated health benefits.

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