Source: European Parliament
The decarbonisation of the EU economy implies a steep reduction of fossil fuel imports[1] and associated costs, which will allow to invest in the deployment of decarbonised energy supply and energy efficiency, reinforcing our energy security and creating new economic opportunities and jobs.
The impact assessment accompanying the 2040 climate target provides an analysis on the exposure of EU regions to climate change impacts[2] and to the transition on the basis of their economic activity.
The implications of the EU-wide 2040 target at Member State level will depend on the design of climate policies, the broader enabling framework as well as on how Member States implement it. Impacts will also depend on national policy choices and decisions.
The assessment of the post-2030 policy framework will be possible once the Commission starts developing the proposals for specific policies to deliver the 2040 target.
The policy proposals will be accompanied by impact assessments[3]. The Commission’s analyses will embed, to the extent technically possible, the national policies and measures as expressed in the National Energy and Climate Plans.
- [1] See for instance Section 2.6 of Annex 8 in Part 3/5 of the impact assessment of the 2040 climate target (SWD/2024/63 final): Securing our future, Europe’s 2040 climate target and path to climate neutrality by 2050 building a sustainable, just and prosperous society.
- [2] Section 2.3 and 3.3 of the Annex 7 in Part 2/5 of the impact assessment of the 2040 climate target (SWD/2024/63 final).
- [3] As per the Better Regulation system: https://commission.europa.eu/law/law-making-process/better-regulation_en.