Core services, including energy, food, water, housing and healthcare, are essential for a decent standard of living. The economic dynamics of these services in Europe, however, vary greatly, particularly in the extent of commercialisation. Essential healthcare stands out as a service delivered largely outside of the market; by contrast, food and energy are commercialised in most
European countries. The commercialised status of energy in Europe can have an impact on living standards, particularly when accompanied by inadequate regulation.
The climate crisis and energy price explosion have made it clear: the EU cannot afford its dependency on fossil fuels anymore. How to deal with these enormous challenges? Our 100% Renewable Action Plan for the next European Commission describes what needs to happen after the 2024 European elections to harvest the benefits of renewables.
It is very clear that if the EU wants to make a fair contribution to the effort to limit temperature rise to 1.5°C, it will need to follow the recommendation of UN Secretary General Antonio Guterres and aim for achieving net-zero GHG emissions by 2040 rather than by 2050. This means the new EU 2040 target should become a net-zero target. It makes sense for the EU to set a very ambitious 2035 target of around 95% net GHG emission reductions at the same time.
