The European Union aims to 'climate balance' by 2050

European countries have pledged to take important steps to limit their impact on the climate. Recently, they have set a more ambitious goal. The EU hopes to achieve a "climate-balanced economy" by 2050 - that is, without greenhouse gas emissions exceeding the environmental impact. This strategy will involve broader use of renewable energy (80% by 2050), which will lead to a change in the electricity transport industry and the "carbon-less" industry.

Greenhouse gas emissions are currently a global problem

According to energy commissioner Maroš Šefčovič, in order to do this, the EU must "make significant additional investments". The EU estimates that it needs 175 billion euros to 290 billion euros (about 199 billion dollars to 330 billion dollars) per year for this ambitious plan. However, the EU believes it can save money by cutting fossil fuel imports, upgrading air quality (thereby reducing health care costs).

There is ample historical evidence that economic growth and environmental friendliness are not mutually exclusive. Šefčovič says emissions have fallen by 22% since 1990 even when gross domestic product increased by 58%. He acknowledged that governments could not handle all the investments themselves and promised to encourage private companies to join the project.

Will the EU achieve its goals? Each individual country has its own opposition. Germany generally opposes higher emissions targets for cars, while Poland relies heavily on coal and is unlikely to welcome efforts to shut them down, even if they are replaced by solar and wind equipment. The EU will also face the "resistance" of national leaders such as Viktor Orbàn of Hungary, who can oppose major changes in economic policy. The goal is an important start, but the process can be slow because some countries oppose the plan.

Reference: Engadget