The European Green Deal is all about ensuring sustainable growth and jobs. The continued focus on clean energy transition and wider economic transformation towards a climate neutral economy is necessary to avoid more global climate-related crises to deal with in the future.
Transforming the energy sector is essential in order to ensure the necessary reductions of greenhouse gas emissions in the EU. Large investments are needed in production, distribution and storage of energy as well as in order to reduce the demand, notably in the buildings sector. Sustainable energy sector investments can contribute significantly to short term economic stimulus and job creation. In this context, we should make the best use possible of the submitted NECPs to deliver on the EU Green Deal and support economic recovery in the EU.
The NECP process also supports coordination measures between Member States to drive smart energy system integration and facilitate increased regional cooperation on projects related to all aspects of energy production.
In accordance to the Regulation on the Governance of the Energy Union and Climate Action, Member States have submitted their final National Energy and Climate Plans (NECPs). The NECPs are detailing national objectives, targets and contributions as well as policies and measures to achieve Energy Union objectives, and in particular the 2030 EU energy and climate targets.
The session will present the role of the Governance process in the EU Green Deal, and a panel consisting of Member States, the Commission and stakeholders will discuss possible ways to keep up the momentum to make the most use of the final plans and their implementation in order to support economic recovery in the EU, especially in terms of regional cooperation, citizens’ involvement and identifying investment opportunities and financing sources.