The European Union decides to invest heavily in renewable energy

The European Commission’s proposals even go beyond its COP21 commitments.

With Donald Trump insisting on doing the ostrich act on climate change, the European Union has decided to slash its energy usage by nearly one third by 2030.

In accordance to the terms set by the historic Paris Climate Agreement, the EU will be cutting its carbon emissions by 40% over the same period. This new policy will help focus its energy sources to renewable energies.

In line with this concept, it will also renovate older, less efficient older buildings in order to reduce their carbon footprint.

“Today’s proposals have three main goals, putting energy efficiency first, achieving global leadership in renewable energies and providing a fair deal for consumers,” said the European Commission in a statement.

As noted by the BBC, the European Union will also create new incentives for innovative designs, include smart metering, so as to help energy suppliers streamline costs as well as empower and incentivise Europeans to produce and sell their own electricity.

“I’m particularly proud of the binding 30% energy efficiency target,” said Miguel Arias Cañete, EU’s Climate Action and Energy Commissioner, “as it will reduce our dependency on energy imports, create jobs and cut more emissions.”

This plan is currently at the proposal stage in the European Parliament.

Once it becomes law, it will make a 30% energy efficiency target a very achievable reality.

It will also kickstart an investment of “up to 177 billion euros of public and private investment per year” phased over a period of 2021 to 2030 and create nearly 900,000 new jobs on the continent.

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