Ocean Energy Europe: EU Leaders Lacking Industrial Leadership with Energy Framework

EU Heads of State have agreed upon a climate and energy framework, which fails to provide industrial leadership for Europe. The framework’s new targets for greenhouse gas emissions, renewable energy and energy efficiency will do little to capitalise on the security, employment and export potential of new sectors such ocean renewable energy, according to Ocean Energy Europe.

The decision puts Europe’s future energy security and its position as a global leader in renewable energy and climate action at risk.

The European Council agreed a 40% binding greenhouse gas emission reduction target, a binding, EU-wide renewable energy target of at least 27%, and a non-binding, EU-wide energy efficiency target of at least 27%. Ocean Energy Europe – the EU trade association for ocean renewable energy – criticised the agreement, as it will fail to address the major concerns facing Europe today: energy security, unemployment, and the transition to a low carbon economy.

“If the EU is serious about tackling big issues such as energy security, unemployment and climate change, it needs to provide industrial leadership on climate and energy by setting hard and fast targets and reduce its exposure to highly volatile fossil fuel imports.

“Economies across the world will have to transition to low-carbon. By staying ahead of this curve, Europe can tap into massive export and job creation potential. This is as true for the first generation of renewable energy as it will be for the next generations, such as ocean energy technologies,” said Dr Sian George, CEO of Ocean Energy Europe.

In 2009, Europe agreed climate and energy targets for 2020, creating a powerful force which took a first generation of renewable energies from a niche market to the mainstream. These targets reduced regulatory uncertainty, driving down the cost of investment across Member States and established the EU as the global industrial leader in renewable energy.

“Europe needs higher targets for renewables – and for energy efficiency. More ambitious goals would bring a broader range of future energy technologies such as renewable ocean energy to cost-competitive levels, providing savings in the long term. All this whilst creating jobs. Member states cannot afford unambitious targets,” concluded Dr George.

[mappress mapid=”14566″]

Press release; Image: Ocean energy Europe