High-level conference to boost investment in clean energy transition
Significant investment is needed in the energy sector to help the EU achieve its ambitious climate change targets, which were agreed as part of the Paris Agreement. The EU has committed to cut CO2 emissions by at least 40% by 2030 while modernising its economy and creating jobs and economic growth for all European citizens. The European Commission wants to keep the European Union competitive as the clean energy transition is changing the global energy markets. The Clean Energy for All Europeans package presented by the Commission in November 2016 aims at setting the legal framework to make this transformation possible. To boost investment in clean energy, the European Parliament and European Commission will host a high-level conference in Brussels on 7 November. Together with the European Parliament President Tajani, ITRE Chair MEP Buzek, EIB President Hoyer and the Governor of California Jerry Brown, Commission Vice-President Katainenand Commissioner Arias Cañete will open the conference. Vice-President Šefčovic and Commissioners Oettinger and Bulc will also participate in high-level roundtables. Main focus: best ways to finance the transition from carbon to more sustainable energy sources. Estimates show that to reach the EU 2030 energy and climate targets, about €379 billion investments are needed annually over the 2021–2030 period, mostly in energy efficiency, renewable energy generation and infrastructure. Bringing together political leaders, policy makers, the investor community, energy market participants and other stakeholders, the conference will discuss how multiple stakeholders can act together, and how best to foster investment in the energy transition. See a detailed agenda of the event or follow live. At 10:45 a joint press conference with EP President Tajani, Californian Governor Jerry Brown and Climate Action and Energy Commissioner Arias Cañete is foreseen. Journalists that already hold a permanent media accreditation with the European Parliament will be able to access the event. For those not holding a permanent media accreditation, requests to firstname.lastname@example.org. Follow on Twitter: #CleanEnergyEU.