The President of the European Commission, Ursula Von der Leyen, took part in the Major Economies Forum where she spoke about the work carried out in Europe on the energy transition and pointed out the need to work together with the United States and the other powers to achieve the global objectives for energy efficiency and renewable energies in the run-up to COP28. To this end, he pointed to the importance of working together with international organisations, such as the International Energy Agency (IEA). “Working together to achieve net zero is a must for the climate, a new frontier for technology, an opportunity for businesses and a driver for good jobs”, she said.

Ursula Von der Leyen stressed the central role of the US and the EU on the road to net zero, a road whose speed must be accelerated. “We are the policy makers who can keep global warming below 1.5 degrees Celsius. And we have the tools! With innovation, science, technology and industrial capacity to achieve this goal”, she said.

During her speech, the Commission President turned to President Biden and John Kerry, the US Special Presidential Climate Envoy, to tell them that the EU supports the four goals that the US set for the Major Economies Forum. Firstly, he assured that we can achieve a net zero energy sector by 2040. “Here in Europe, we have just raised our 2030 target for renewables, from 32% up to over 42%. Just last weekend, G7 Ministers highlighted energy efficiency as a key pillar in the global energy transition. As Fatih Birol just showed us: Now the time has come for global action”, stressed Von der Leyen.

“Second, we share the goal of reducing deforestation to net zero by 2030. The EU has joined the Forest and Climate Leaders Partnership. And we will invest one billion euros by next year, including through the Amazon Fund”, the Commission President explained.

Third, she stressed that 150 countries have already signed up to the Global Methane Pledge that the EU launched together with the US. “Now we must all come up with roadmaps to turn pledges into action. In the EU, we are reducing fluorinated gases beyond what is required under the Kigali amendment. And Team Europe will continue to contribute to the Montreal Protocol Multilateral Fund”, she added.

“Finally, we welcome your initiative on carbon management. The European Commission has proposed a binding European target for carbon storage capacity – to store 50 million tonnes of CO2 per year by 2030”, Von der Leyen concluded.