ENFANTS TERRIBLES

Recommendations

Info

FINANCING REQUIREMENTS FOR LOW-CARBON TRANSITION To avoid most of the catastrophic consequences of climate change and to achieve the goal set by 195 nations in Paris in December 2015 11 of limiting global warming to “well below” 2°C above the pre-industrial level, global greenhouse gas emissions must be cut drastically. The Intergovernmental Panel on Climate Change 12 translates this target into a CO 2 concentration of less than 450 parts per million 13 . The European Union has, based on this, undertaken a commitment to reduce emissions by 80% to 95% by 2050. Achieving this goal will essentially require the total decarbonisation of European economies in the twenty-first century. Significant investment into energy efficiency, renewable energy generation, electricity transmission and storage, clean energy and transport infrastructure, into buildings, industry and research and development are needed to catalyse this transition. Estimations about the costs of that transition vary significantly, depending on assumed energy scenarios and chosen technological pathways. What is sure is that a low-carbon and clean energy economy requires a completely different investment profile to the current, carbon intensive business-as-usual profile. The characteristics of the low-energy consuming, renewables-based energy system will be higher up-front costs because the investment costs for low-carbon technologies tend to be higher, while variable costs tend to be lower. According to the International Energy Agency 14 , USD 53 trillion in cumulative investment in energy supply and energy efficiency is required between 2014 and 2035 to get the world onto a 2°C emissions path. For Europe, the IEA estimates 15 that cumulative investment of USD 2.2 “ Investing for the future. The production-consumption systems that meet basic social needs such as food, energy, housing and mobility rely on costly and longlasting infrastructure, meaning that investment choices can have long-term implications. This makes it essential to avoid investments that lock society into existing technologies, and thereby limit innovation options or hinder investments in substitutes. “ European Environment Agency, State of the Environment Report 2015 trillion (second only to China) is needed to replace ageing infrastructure and meet decarbonisation goals. The European Commission calculates 16 that in order to realise the transition in Europe, the EU would need to invest an additional EUR 270 billion (or on average 1.5% of its GDP annually) over the next four decades. 11 12 13 14 15 16 http://unfccc.int/resource/docs/2015/cop21/eng/l09.pdf IPPC 2014, https://www.ipcc.ch/pdf/assessment-report/ar5/wg3/ipcc_wg3_ar5_summary-for-policymakers.pdf page 8 February 2015 was the first month in human history where carbon dioxide concentrations of 400 parts per million were measured. The pre-industrial concentration of CO 2 is estimated at 280 ppm. IEA (2014), https://www.iea.org/publications/freepublications/publication/WEIO2014.pdf https://www.iea.org/media/140603_WEOinvestment_Factsheets.pdf#page=1&zoom=auto,-82,848 http://ec.europa.eu/clima/policies/strategies/2050/index_en.htm 10 ‘Climate’s enfants terribles: how new Member States’ misguided use of EU funds is holding back Europe’s clean energy transition’
EU FUNDS IN CENTRAL AND EASTERN EUROPE A LOST OPPORTUNITY FOR CLEAN ENERGY TRANSITION AND SUSTAINABLE DEVELOPMENT The European Union has integrated the financing of climate change mitigation and adaptation measures into its Multi- Annual Financial Framework, the EU’s EUR 960 billion budget for the 2014-2020 period 17 , stating that at least 20% of its budget for 2014-2020 – as much as EUR 180 billion − should be spent on climate change-related action. Financing of climate change mitigation and adaptation actions is supposed to be integrated into all major EU spending programmes, in particular EU regional policies and regional development, social and cohesion funds, supporting energy, transport, research and innovation: these regional development funds are the EU’s main tool to promote infrastructure investment all over Europe. They make up around a third of the bloc’s budget, around EUR 351 billion for seven years, and around two thirds of all Cohesion Policy funding goes to countries in Central and Eastern Europe (Graph 1). GRAPH 1: European Regional Development, Social Fund and Cohesion Fund 2014 to 2020 per member state, billion EUR, 2014 prices; source DG Regional and Urban Development PL IT ES 77.5 32.8 28.5 RO CZ HU PT 22.9 21.9 21.9 21.4 DE FR EL SK BG LT UK LV EE FI NL AT SI IE HR 19.2 13.9 11.8 8.6 15.8 15.5 7.5 6.8 4.5 BE SE CY MT DK AT 1.235,6 BE 2.283,9 BG 7.588,4 CY 735,6 CZ 21.982,9 DK 553,4 DE 19.234,9 EE 3.590,0 EL 15.521,9 ES 28.559,5 FI 1.465,8 FR 15.852,5 HR 8.609,4 HU 21.905,9 IE 1.188,6 IT 32.823,0 LT 6.823,1 LU 59,7 LV 4.511,8 MT 725,0 NL 1.404,3 PL 77.567,0 PT 21.465,0 RO 22.993,8 SE 2.105,8 SI 3.074,8 SK 13.991,7 UK 11.839,9 17 http://ec.europa.eu/clima/policies/budget/index_en.htm ‘Climate’s enfants terribles: how new Member States’ misguided use of EU funds is holding back Europe’s clean energy transition’ 11
Page 1 and 2: CLIMATE’S ENFANTS TERRIBLES HOW N
Page 3 and 4: TABLE OF CONTENTS EXECUTIVE SUMMARY
Page 5 and 6: safeguard mechanism, the Strategic
Page 7 and 8: SLOVAKIA HUNGARY ROMANIA CROATIA Sl
Page 9: INTRODUCTION PURPOSE OF THIS STUDY
Page 13 and 14: LT RO SK HU CZ LV CEE EE PL HR 20.0
Page 15 and 16: GRAPH 7: Comparison of energy effic
Page 17 and 18: GRAPH 10: Different types of energy
Page 19 and 20: GRAPH 12: Member States’ GHG emis
Page 21 and 22: TABLE 2: Criteria for renewable ene
Page 23 and 24: What EU money can’t buy: the gree
Page 25 and 26: 25% of production respectively 30 .
Page 27 and 28: are implemented through six Nationa
Page 29 and 30: track to carbon-neutral development
Page 31 and 32: It is also worth noting, that all O
Page 33 and 34: very specific - although mostly sil
Page 35 and 36: 110 billion in the optimal renovati
Page 37 and 38: whose ROP clearly prioritises commu
Page 39 and 40: aimed at modernising and building n
Page 41 and 42: The long and rocky path away from s
Page 43 and 44: GRAPH 21: Production of electricity
Page 45 and 46: CLIMATE ACTION: THE CASE FOR EU FUN
Page 47 and 48: GRAPH 23: Investment areas of Cohes
Page 49 and 50: could play a major role in replacin
Page 51 and 52: The missing pathway to long-term de
Page 53 and 54: intensity has decreased over the la
Page 55 and 56: achieving policy objectives. Such i
Page 57 and 58: change. Nevertheless, no specific c
Page 59 and 60: Considering the fact that renewable
Page 61 and 62:
equires a more comprehensive assess
Page 63 and 64:
A ‘green’ veneer, but at what c
Page 65 and 66:
NATIONAL GHG EMISSIONS The transiti
Page 67 and 68:
monopoly (which imports Russia`s ga
Page 69 and 70:
GRAPH 36: Cargo traffic by mode of
Page 71 and 72:
than that of deforestation, some ex
Page 73 and 74:
GRAPH 41: Energy efficiency allocat
Page 75 and 76:
Bring on the money, don’t ask for
Page 77 and 78:
GRAPH 43: Energy mix of the Czech R
Page 79 and 80:
Regarding the Europe 2020 emissions
Page 81 and 82:
the renewables share to 35%, the Cz
Page 83 and 84:
of commitment of public authorities
Page 85 and 86:
GRAPH 53: Share of transport modes
Page 87 and 88:
TABLE 12: Renewable energy output i
Page 89 and 90:
2007-2013 2014-2020 In the Enterpri
Page 91 and 92:
GRAPH 55: The different types of en
Page 93 and 94:
Finance for the energy transition -
Page 95 and 96:
ENERGY SECTOR OF SLOVAKIA: STEADY W
Page 97 and 98:
strategy until 2030, in 2012, but t
Page 99 and 100:
This support is very welcome as it
Page 101 and 102:
environmentally-friendly production
Page 103 and 104:
participation in assessment procedu
Page 105 and 106:
The Integrated Infrastructure OP se
Page 107 and 108:
THE DARK SIDE IS IN THE DETAILS Cli
Page 109 and 110:
GRAPH 60: Climate targets, scenario
Page 111 and 112:
GRAPH 64: Total climate allocations
Page 113 and 114:
EXPECTED COMPLEMENTARY FINANCING MO
Page 115 and 116:
Recommendations for the mid-term re
Page 117 and 118:
Notwithstanding a few exceptions, t
Page 119 and 120:
c) Renewable energy sources Eligibl
Page 121 and 122:
enewables in transport, as this tas
Page 123 and 124:
Annex II - Complementary financing
Page 125 and 126:
Going ‘super-green’, but not ri
Page 127 and 128:
GRAPH 67: Energy mix 2013 - Gross i
Page 129 and 130:
OVERVIEW OF EUROPEAN STRUCTURAL AND
Page 131 and 132:
cogeneration systems, monitoring sy
Page 133 and 134:
pollution levels and poor air quali
Page 135 and 136:
line with the Europe 2020 targets a
Page 137 and 138:
esidential sector and the usage of
Page 139 and 140:
In the preparation phase, the mains
Page 141 and 142:
of the Thematic Objective or progra
Page 143 and 144:
Land of unfulfilled clean energy po
Page 145 and 146:
hydropower plants (94%), and the ot
Page 147 and 148:
points to a need for the developmen
Page 149 and 150:
and adaptation, disaster resilience
Page 151 and 152:
significant biomass growing fields.
Page 153 and 154:
ports (EUR 140 million), new and im
Page 155 and 156:
RECOMMENDATIONS FOR PLANNING, MONIT
show all

ENFANTS TERRIBLES

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?