Banks Steer European Shipping towards Low Carbon
21 Feb, 2018
EURELECTRIC, the association representing the interests of the electricity industry in Europe, has said the region’s power companies intend to be both part of a competitive European economy and reliably powered by clean, carbon-neutral energy.
In a letter to UN Climate Change Executive Secretary Patricia Espinosa, EURELECTRIC commits to play a central role in the shift to a more sustainable energy production. “We recognise our responsibility and are fully engaged to playing our part in order to accelerate the clean energy transition. We look forward to leading this fascinating journey”, says Kristian Ruby, Secretary General of EURELECTRIC.
In the light of the Paris Climate Change Agreement, the European Union aims to reach a share of 20% of renewable energy in the total consumption by 2020. "Renewable energy sources (RES) are fundamental contributors to the decarbonisation of the power sector. For instance, meeting the EU’s target of a 20% share of RES in final energy consumption by 2020 requires the power sector to contribute with a RES share of 35%.," says EURELECTRIC on its website.
According to the European Environment Agency, renewable energy accounted for 16.7% of total production and 28% of final electricity consumption in 2015. “This represents a key investment opportunity for the power sector. We believe electricity is the key to achieving social and environmental sustainability, improving cities, communities and rural areas”, writes Kristian Ruby.
The Union of Electricity Industry, with over 30 members from 32 European countries, pledges to lead the energy transition as cost-effective as possible. “We will transform the energy system to make it more responsive, resilient and efficient. For that, we need to invest in innovation and develop breakthrough technologies. We also call on policymakers and stakeholders to recognise the importance and invest in the transition into a more climate-friendly electricity”, says Mr. Ruby.
Read the full document here.