According to the financial times, in addition to the plan to increase carbon emission reduction spending, the EU will invest an additional 195 billion euros (about US $205 billion) to achieve its ambitious zero carbon emission target. According to the draft of the European Commission, the EU will put forward a package plan for the implementation of the REpower EU strategy on May 18, proposes to increase the clean energy target in 2030 from the current 40% to 45%, and requires Member States to reduce energy consumption by at least 13% based on the forecast in 2020, compared with the previous target of 9%**
In addition to throwing money, the EU is also preparing to stop selling new fuel vehicles in 2035
The EU pursues clean energy and hopes to get rid of its dependence on Russian energy
After the escalation of the conflict between Russia and Ukraine, the EU hopes to combine the faster deployment of renewable energy, greater energy conservation, energy supply of diversified international partners and new tools, and accelerate investment to get rid of energy dependence on Russia.
The European Commission has said that the EU is expected to reduce Russia's natural gas imports by two-thirds this year , and urged member states to replenish their natural gas storage facilities by next winter.
People familiar with the matter said that this strategy will support the efforts of the green agreement to achieve greater emission reduction by 2030, and can save the EU 80 billion euros of natural gas, 12 billion euros of oil and 1.7 billion euros of coal imports every year**
In addition, the EU is also seeking Member States to approve its sixth set of sanctions, including the gradual implementation of the embargo on Russian oil this year. However, these measures were opposed by Hungary, which is heavily dependent on Russian oil.
Hungary has been blocking the EU's plan to ban oil imports from Russia by the end of this year, saying it needs more time and funds to ensure a sustainable transition, and has been seeking technology and investment guarantees.
The EU plan will show that billions of euros in infrastructure investment is needed to import enough LNG and pipeline gas from new supplies and will ensure preparation for hydrogen development projects.
The proposals will also outline the limited investment needed in oil infrastructure in the short term to ensure supply security in countries that rely entirely on Russian energy, but the scale of the plan has not been decided, people familiar with the matter said.
The EU plans to produce 10 million tons of renewable hydrogen in China and import 10 million tons of renewable hydrogen by 2030. The production target of biomethane is 35 billion tons
The proposal will also formulate some emergency response plans, such as the emergency plan to cut off natural gas supply in Russia, as well as the need to develop common standards and coordinate actions. But it may change before implementation.
In order to help release investment, the European Commission hopes to obtain funds in advance from the innovation fund, which is based on the sales revenue of carbon emission permits in the EU emission trading system** This will be done in the project appeal this autumn, when the available funds of the EU will double.
The EU will ban the sale of oil vehicles to achieve zero emissions
In addition, members of the Environment Committee of the European Parliament on Tuesday supported an EU plan which will effectively ban the sales of new gasoline and diesel vehicles from 2035 , and voted against stricter targets to reduce vehicle carbon dioxide emissions in the next 10 years.
The European Commission supports the proposal to reduce carbon dioxide emissions to zero by 2035, which will make it impossible for new fossil fuel powered vehicles to be sold in 27 member states.
The European Commission put forward these goals in July last year as part of a larger climate change policy to allow new cars to be used for 10 to 15 years, which means that 2035 may be the latest date to stop the sale of oil vehicles without compromising the EU's plan to achieve zero net emissions in all sectors by 2050**
Jan huitema, the main legislator of the policy, said:
"With carbon dioxide standards, we have created transparency for the automotive industry and stimulated innovation and investment by carmakers. This should reduce the cost of electric vehicles."
The entire European Parliament will vote on the proposal on car carbon dioxide emissions in the coming months, after which legislators and EU countries must negotiate the final rules.
By accelerating the transition to electric vehicles, the EU's goal is to address a quarter of EU emissions, namely transport emissions, which has been rising in recent years.
Companies including Volkswagen have announced plans to stop selling diesel cars in Europe by 2035, but some industry groups have warned of a specific technology and said the goal of zero emissions can only be achieved if policymakers support the large-scale launch of charging facilities**
At present, the EU is still negotiating a proposal to require countries to regularly install public charging stations along major roads.