FETSA View: Reducing Greenhouse Gas Emissions

[caption id="attachment_35203" align="alignleft" width="200"] Ravi Bhatiani, Executive Director, FETSA[/caption] Ravi Bhatiani, executive director at FETSA shares the group’s response to the European Commission’s 2040 GHG reduction target   As forecast in 2023, the European Commission has recently announced a proposed climate target recommendation of 90% GHG emissions reductions from 90s levels by 2040. In parallel it announced a new approach to CCUS called the Industrial Carbon Management Strategy.   2040 Target The European Commission’s 90% recommendation acknowledges the urgency of addressing climate change and recognises the EU’s responsibility to lead by example. By committing to a 90% emissions reduction target by 2040, the EU aims to significantly curb its greenhouse gas emissions and set a path towards achieving net-zero emissions by 2050. This target aligns with the objectives of the Paris Agreement, which calls on countries to limit global warming to well below 2°C above pre-industrial levels, preferably to 1.5°C. Achieving a 90% emissions reduction by 2040 will require coordinated efforts across all sectors of the economy, including energy,...