AGL 38.40 Decreased By ▼ -0.08 (-0.21%)
AIRLINK 192.00 Decreased By ▼ -11.02 (-5.43%)
BOP 9.58 Decreased By ▼ -0.59 (-5.8%)
CNERGY 5.86 Decreased By ▼ -0.68 (-10.4%)
DCL 8.68 Decreased By ▼ -0.90 (-9.39%)
DFML 36.90 Decreased By ▼ -3.12 (-7.8%)
DGKC 94.25 Decreased By ▼ -3.83 (-3.9%)
FCCL 34.70 Decreased By ▼ -0.26 (-0.74%)
FFBL 83.72 Decreased By ▼ -2.71 (-3.14%)
FFL 12.80 Decreased By ▼ -1.10 (-7.91%)
HUBC 122.25 Decreased By ▼ -9.32 (-7.08%)
HUMNL 13.51 Decreased By ▼ -0.51 (-3.64%)
KEL 5.04 Decreased By ▼ -0.57 (-10.16%)
KOSM 7.10 Decreased By ▼ -0.17 (-2.34%)
MLCF 43.05 Decreased By ▼ -2.54 (-5.57%)
NBP 59.85 Decreased By ▼ -6.53 (-9.84%)
OGDC 212.95 Decreased By ▼ -7.81 (-3.54%)
PAEL 36.75 Decreased By ▼ -1.73 (-4.5%)
PIBTL 8.22 Decreased By ▼ -0.69 (-7.74%)
PPL 189.00 Decreased By ▼ -8.88 (-4.49%)
PRL 38.40 Decreased By ▼ -0.63 (-1.61%)
PTC 24.40 Decreased By ▼ -1.07 (-4.2%)
SEARL 102.50 Decreased By ▼ -0.55 (-0.53%)
TELE 8.26 Decreased By ▼ -0.76 (-8.43%)
TOMCL 35.15 Decreased By ▼ -1.26 (-3.46%)
TPLP 13.60 Decreased By ▼ -0.15 (-1.09%)
TREET 22.61 Decreased By ▼ -2.51 (-9.99%)
TRG 53.05 Decreased By ▼ -4.99 (-8.6%)
UNITY 32.70 Decreased By ▼ -0.97 (-2.88%)
WTL 1.52 Decreased By ▼ -0.19 (-11.11%)
BR100 11,490 Decreased By -399.7 (-3.36%)
BR30 35,610 Decreased By -1746.4 (-4.68%)
KSE100 106,986 Decreased By -4083.9 (-3.68%)
KSE30 33,603 Decreased By -1305.6 (-3.74%)

CERNOBBIO: Europe will miss a key climate target for cutting greenhouse gas emissions by more than 20 years unless it picks up the pace on energy transition measures and improves governance, a study involving Europe’s biggest utility Enel said.

At the current pace, Europe will only reach its 2030 target for a 55% reduction in greenhouse gases in 2051, a study by Enel Foundation and the European House-Ambrosetti said.

In July, Brussels unveiled a raft of ambitious measures in its ‘Fit for 55’ package aimed at putting the European Union on track to meet the 2030 goal of reducing emissions by 55% from 1990 levels.

The study, presented on Saturday, said investments of around 3.6 trillion euros ($4.3 trillion) were needed across the bloc to reach 2030 goals, with a potential cumulative impact on the EU’s economic growth of more than 8 trillion euros.

But it warned the EU needed to step up its efforts if this potential was to be realised.

“It is necessary to accelerate and equip ourselves with a governance system which is adequate to the extent of the challenge and capable of translating intentions into concrete action,” Enel Chief Executive Francesco Starace said.

He said at the current pace Europe would only reach its 2030 target of raising the share of renewable energy to 40% of final consumption in 2043. “(That) would be too late”.

Comments

Comments are closed.