The Energy Union is a new European project aiming to leverage the power of concerted EU action to address new energy challenges. The project has a major potential to reduce the costs and risks of Europe’s long term energy transition in line with The ECF and European Commission Roadmap 2050 findings.
On November 18th, the European Commission published a report on the State of the EU Energy Union. This is the first in a new annual tradition from the European Commission to assess progress towards the stated objective of a resilient Energy Union with a forward-looking climate policy.
Two of the ECF’s closest partners, CISL (Cambridge Institute for Sustainable Leadership) and E3G (Third Generation Environmentalism) launched a new report that brings the perspective of progressive business and thought-leaders on progress so far and priorities for the next years. The report concludes that, if implemented, the EU Energy Union project is Europe’s chance to stay competitive and secure in a changing global energy landscape. Hence, the report gives a performance grade ‘A’ for the potential of the project. Realising that, however, relies on thorough implementation of the vision in the next years. The report finds that further action is needed on clarity of investment signals, on consistency of implementation, on integrating energy with finance and digital agendas, and in transitioning out of polluting and inefficient coal power. The organisations, therefore, find the Energy Union project currently achieves a Performance Grade ‘C’.