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Communication from the Commission to the Council, the European Parliament, the European [...] A European Strategic Energy Technology Plan (Set-Plan) 'Towards a low carbon future' COM(2007) 723 final

Funded under: FP7-ENERGY

Abstract

Europe needs to act now, together, to deliver sustainable, secure and competitive energy. The inter-related challenges of climate change, security of energy supply and competitiveness are multifaceted and require a coordinated response. We are piecing together a far-reaching jigsaw of policies and measures: binding targets for 2020 to reduce greenhouse gas emissions by 20% and ensure 20% of renewable energy sources in the EU energy mix; a plan to reduce EU global primary energy use by 20% by 2020; carbon pricing through the Emissions Trading Scheme and energy taxation; a competitive Internal Energy Market; an international energy policy. And now, we need a dedicated policy to accelerate the development and deployment of cost-effective low carbon technologies.
Harnessing technology is vital to achieve the Energy Policy for Europe objectives adopted by the European Council on 9 March 2007. To meet the targets, we need to lower the cost of clean energy and put EU industry at the forefront of the rapidly growing low carbon technology sector. In the longer term, new generations of technologies have to be developed through breakthroughs in research if we are to meet the greater ambition of reducing our greenhouse gas emissions by 60-80% by 2050.
Current trends and their projections into the future show that we are not on a pathway to meet our energy policy objectives. Since the oil price shocks in the 70s and 80s, Europe has enjoyed inexpensive and plentiful energy supplies. The easy availability of resources, no carbon constraints and the commercial imperatives of market forces have not only left us dependent on fossil fuels, but have also tempered the interest for innovation and investment in new energy technologies. This has been described as the greatest and widest-ranging market failure ever seen.

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Record Number: 8888 / Last updated on: 2008-01-04
Category: COM DOCUMENT