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Commission unveils Action Plan for the Planet: Clean Energy Transition is here to stay

French President Emmanuel Macron delivers a speech during the 'Tech for Planet' event at the 'Station F' start-up campus ahead of the One Planet Summit in Paris on December 11, 2017. / AFP / POOL / PHILIPPE WOJAZER

French President Emmanuel Macron delivers a speech during the ‘Tech for Planet’  / AFP / POOL / PHILIPPE WOJAZER


Two years after the Paris Agreement, the Energy Union is firmly in the lead in fighting climate change. To that end the Commission announced a series of initiatives for a modern and clean economy at the One Planet Summit in Paris today, among them clean energy transition is one of the key initiatives. France has organised the Summit together with UN Secretary General António Guterres and World Bank President Jim Yong Kim. The European Commission was one of the key partners.

The Commission participated in the “One Planet Summit“, hosted by the French President Emmanuel Macron, in Paris today. At the Summit the Commission presented its new Action Plan for the Planet, which includes 10 transformative initiatives for a modern economy and a fair society. They are all reflected under the 10 political priorities of the Juncker Commission.

The Paris Agreement sends a clear signal to capital markets and investors – public and private – that the global transition to clean energy is here to stay. Recognising that the Paris Agreement is a key element for the modernisation of the European industry and economy the Commission sees it as an opportunity for EU businesses to maintain and exploit their first mover advantage when fostering renewable energy, energy efficiency, and competing on the development of the clean technology market globally.

“From innovative green financing to new partnerships with other countries, investors, cities, states and regions and civil society, Europe is showing the way when it comes to turning the Paris Agreement into action.” Said, Commissioner for Climate Action and Energy, Miguel Arias Cañete.

The EU is leading by example and is creating an enabling environment that accelerates public and private investment in innovation and modernisation in all key sectors. EU is making this transition to a modern and clean economy taking account of the differences in the energy mix and economic structures across their contries. Beyond updating and strengthening its energy and climate legislation, the EU aims at developing enabling measures that will stimulate investment, create jobs, empower and innovate industries and ensure that no citizen, worker or region is left behind in this process.

“Europe needs around €180 billion in additional yearly investment to power the transition to clean energy and reach our 2030 Paris agreement targets. This effort will require both public and private investors to fully play their part. Europe’s financial sector should be given the opportunity to lead this effort worldwide. To do that we are ready to put in place the foundations for sustainable and green finance to reach its true potential.” said Vice-President for the Euro and Social Dialogue, Financial Stability and Financial Services Valdis Dombrovskis.

The initiative for today’s Summit came from French President Emmanuel Macron at the G20 Summit in Hamburg in July 2017, following the announcement by the United States administration that it would be pulling out of the Paris Agreement.

The Summit brought together actors who are engaged in making the modern and clean economy a reality, and those who have the capacity to financing climate action. Over 1000 delegates participated the Summit, which will continue on Wednesday with various side-events. 

Source: http://europa.eu


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