Greener economies and investment to reduce unemployment and increase global growth

Miguel Arias Cañete, Member of the EC in charge of Climate Actionand Energy, and Hans Bruyninckx, Executive Director of the European Environment Agency (EEA), gave a joint press conference on the launch of the "Trends and projections in Europe 2015" report. (EC Audiovisual Services, 20/10/2015)

Miguel Arias Cañete, Member of the EC in charge of Climate Actionand Energy, and Hans Bruyninckx, Executive Director of the European Environment Agency (EEA), gave a joint press conference on the launch of the “Trends and projections in Europe 2015” report. (EC Audiovisual Services, 20/10/2015)

In less than a month now the UN Climate Conference will be taking place in Paris in order to implement measures that could reverse the downhill of the global climate. At the same time the Corporate Europe Observatory’s survey reveals that the European Commission (EC) is highly promoting the “dirty” energy companies more than the renewable industry by meeting more often with the former ones and thus expensive lobbying making part of important EU climate decisions.

Moreover, the launch of the Global Climate Change Alliance+ (GCCA+) by Commissioner Mimica is meant to change the outlook of how developing countries are addressing the issue of climate change. This project will use around 350 million euros of EU funds till 2020 apart from the extra private and public investments involved.

But the EU is not alone in this fight. The Chinese President Xi Jinping stated that China’s “annual emissions of greenhouse gases will reach a peak no later than 2030, and that it will invest heavily in making the transition to low-carbon economic growth”. The latter strongly reveals the political will of this large economy to commit to the fight against climate change, urging the rest of the member states to act accordingly.

Is the EC influenced by big energy companies?

The research “Cooking the planet: Big Energy’s year of privileged access to Europe’s climate commissioners” issued by the Corporate Europe Observatory has used data of the EC and concluded that 80% of the meetings of Commissioner Miguel Arias Cañete, responsible for Climate and Energy and Maroš Šefčovič, Vice-President of the Energy Union, involved the private sector. The majority of those meetings is with fossil fuel companies which are responsible to a great extent for the climate change. It seems that the money invested by big oil companies in lobbying is paying off according to this study.

However, Eurostat, the statistical office of the European Union, has published a small selection of data on energy, transport and environment in the EU related to climate change which demonstrate that renewables have increased their share in final energy consumption while greenhouse gas emissions (GHG) decreased from 1990 to 2013. The latter contradicts the findings of the Corporate Europe Observatory’s survey which implies that the European Commission favours the big energy companies leaving doubts about the objectivity of the climate and energy decision-makers.

But even if there has been a substantial decrease to the GHG (17,9% compared to the 1990’s EU level), more things should be done since the future targets (40% decrease by 2030) that have been set seem very promising but unreal if we continue reducing GHG at the same pace.

Developing countries added to the climate change equation

The purpose of the GCCA+ is not only to provide an exchange of views on climate policies between the EU and developing countries but also to support the latter ones financially in order to adapt to the climate changes and turn their energy infrastructure towards a more renewable approach.

Last Thursday, Commissioner Mimica, responsible of International Cooperation and Development, mentioned during the meeting for the GCCA+ launch:  “It is a top priority for the EU to assist the most vulnerable countries in their efforts to adapt to climate change and at the same time to transit to green and sustainable economies. There are encouraging success stories which we will replicate and take further over the next years.”

This project will conclude in 2020 and is supposed to be EU’s ace in view of the COP21 Conference. It is supposed to address the worrying issue of climate change but the 350 million euros support is not going to provide the desired results unless it will be leveraged with global private and public investments. Only then the possibilities of tackling the climate change will increase substantially.

China leads the climate change fight

It was last Monday when Francois Hollande, French President, signed a declaration with his Chinese counterpart Xi Jinping about the emission cuts ahead of the COP21 Conference. At a joint statement, China committed to focus on growth at a low carbon framework and both countries agreed to convene every five years till 2050 to reevaluate their climate strategies.

Further, the two sides decided that climate finance should be increased to the developing countries after 2020 in order to reduce the consequences of climate change.

The latter deal clearly shows the will of the second biggest economy in the world to play a leading role in the negotiations and the contributions of the Paris COP21 and climate change policies in general.

All in all, the implementation of measures taken only by the EU and China will not be enough though to decarbonize the global economy by the end of this century. Greener investments will bring not only more jobs and growth to the global economy but enhance the quality of our lives as well.

Follow Chris on Twitter @CAnyfantis

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

This is how climate science went mainstream

Commission proposes fishing opportunities in the Atlantic and North Sea for 2019

EU continues targeting on Chinese steel imports instead of the revival of its own economy

Half of Eurozone in deflation expecting salvation from monetary measures

COP24: Paris agreement remained alive but fragile while the EU attempts to slow down CO2 emissions for new cars

A year on from Yemen talks breakthrough, top UN Envoy hails ‘shift’ towards peace, despite setbacks

Barcelona’s ‘superblocks’ could save lives and cut pollution, says report

A health of all and for all based on the Ecuadorian reality

Antitrust: Commission consults stakeholders on guidance for national courts when handling disclosure information

Is friendly public transport the answer to the loneliness epidemic?

EU signs with Canada historic trade agreement, others to follow

4 bold new ways New York is going clean and green

The European Sting’s 2018 in most critical review

Human Rights Council election: 5 things you need to know about it

Qualcomm to be the next target of EU antitrust regulators? China might be the answer

Three tips for breaking through bias and seeing evidence more clearly

Will the three major parties retain control of the new EU Parliament?

‘World’s deadliest sea crossing’ claimed six lives a day in 2018: UN refugee agency

“Our house is on fire.” 16 year-old Greta Thunberg wants action

10 of Albert Einstein’s best quotes

UN peacekeepers warn of increasing global challenges

Junior Enterprises as a solution for Youth Entrepreneurship

Drowning in the Mediterranean this summer? Many happy returns

Drastic deterioration in security across Burkina Faso as 70,000 flee their homes in past two months, UN warns

This new form of currency could transform the way we see money

Polish PM chooses to focus on economy, amid questions on rule of law in Poland

Why enterprise risk management is the future for banks

Where do Americans stand on immigration? They’re not as divided as you might think

Traditional finance is failing millennials. Here’s how investing needs to change

As Syria conflict enters ninth year, humanitarian crisis ‘far from over’, Security Council hears

The Commission unsuccessfully pretends to want curbing of tax evasion

Gender Equality Index 2019: Still far from the finish line

The EU stops being soft with 10 Downing Street about Brexit

The ocean is teeming with microplastic – a million times more than we thought, suggests new research

‘Once lost, hearing doesn’t come back,’ World Health Organization warns on World Hearing Day

What the next 20 years will mean for jobs – and how to prepare

AIESEC Vlog

UN refugee agency presses States to aid 49 refugees stranded on Mediterranean

Juncker Investment Plan for Europe welcomed by European Youth Forum

OECD Secretary-General statement on Europe Day

EU officially launches its first naval mission against migrant smugglers

GSMA Announces Final Event Lineup for Highly Anticipated 2019 “MWC Los Angeles, in Partnership with CTIA”

Restoring government control across Central African Republic is ‘key’ to lasting peace, stability – UN envoy

Forests ‘essential’ for the future, UN agriculture chief spells out in new report

Brazil’s hopeless future of science

UN chief calls for ‘united front’ against anti-Semitism after US synagogue mass-shooting

Entrepreneurship’s key to success showcased by a serial young entrepreneur

The challenges of mental health among the Syrian medical students

Trump: Hostile to Europe, voids Tillerson’s “ironclad” ally pledge

Mexico must increase foreign bribery enforcement: full implementation of anti-corruption reforms could help

AI-driven companies need to be more diverse. Here’s why

At least 2.5 million migrants were smuggled in 2016, first UN global study shows

UN chief welcomes establishment of inclusive government in Central African Republic

Antibiotics are contaminating the world’s rivers

Suicide Prevention: Using Graduation as a Transformative Tool

Overseas investment falling, developing countries largely unscathed: UN trade agency

The fires in the Brazilian amazon rainforest may be related to the increase in the number of hospitalizations for respiratory complications in the state of PARÁ

At last some rules on banks

EU and Overseas Countries and Territories boost cooperation at annual Forum with €44 million

Eurozone closer to a deflation – stagnation trap

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s