Efforts to achieve 2030 climate target will pay off: EU energy ministers

BRUSSELS, Oct. 6 (Xinhua) -- Energy ministers of the European Union (EU) agreed on Tuesday that the new climate target of cutting at least 55 percent of CO2 emissions by 2030, compared to 1990 levels, demands lots of efforts but the efforts will ultimately pay off.

The consensus was reached at an informal ministerial meeting convened by German Minister for Economic Affairs and Energy Peter Altmaier and European Commissioner for Energy Kadri Simson to discuss the target set by the European Commission.

Addressing a press conference following the meeting, Altmaier and Simson highlighted that the EU had already made lots of progress regarding the green transition, and that it was time to switch gears for a more ambitious target. "The European Commission's proposal was widely expected and welcomed," said Simson.

However, EU member states expressed their worries about the impact on competitiveness brought up by the new target. Altmaier said the economies need to be supported as the transition is in progress.

An assessment showed that the necessary investments and efforts to achieve the green transition will eventually pay off in terms of job creation, competitiveness and growth, according to Simson, who added that green hydrogen could play a key role in developing climate-neutral energy and maintaining industrial competitiveness at the same time.

Reducing greenhouse gas emission by 55 percent by 2030 will "require a massive effort from everyone," said Simson.

The commissioner said while the EU is on track and even over-delivering the 32 percent renewable share target, it is lagging behind in terms of energy efficiency. Innovation will be needed to work on this.

The EU member states have different starting points, and different kinds of efforts will be needed from them, but guidance will be provided, according to Simson.

Simson stressed the "unique opportunity" of the commission's proposal to spend 37 percent of the Recovery and Resilience Facility on green investments, or about 250 billion euros (293 billion U.S. dollars), to support the green transition.

The informal meeting of the energy ministers took place as the European Parliament's plenary discussed the ambitious proposal of cutting emission by 55 percent by 2030 and becoming climate neutral by 2050 set by the commission's President Ursula von der Leyen in her State of the Union speech in mid-September.

European lobbying efforts have been intensified as China announced in late September that it aims to have CO2 emissions peak before 2030 and achieve carbon neutrality before 2060.