IOGP written input to the consultation “2030 Climate Target Plan”
This document provides IOGP’s written input to the consultation “2030 Climate Target Plan”.
The EU 2030 emission reduction targets need to be accompanied by an enabling and coherent policy framework, including innovation and modernisation funds, that supports the business case to invest in the low-carbon technologies needed to deliver the ambitious EU objectives and to avoid any further delocalisation of European industry, including energy production, to other global locations.
A transparent, holistic, technology-neutral approach is crucial to reach decarbonisation objectives at least cost whilst safeguarding the EU’s global competitiveness, ensuring the security of the energy supply and helping to continue the long-term support from the public for addressing climate change.
- Any upcoming revision of the 2030 emission reduction targets must be based on holistic, thorough and transparent impact assessments that need to consider the following elements:
- COVID-19 impact
- Carbon and investment leakage risk
- Understanding the GHG emissions reduction target and avoiding overlapping measures
- Assessing the possible impacts of different policy options for strengthening the EU ETS ambitions
- The EU should ensure that future policies enable all technology solutions and energy carriers to contribute to the 2030 GHG emission reduction targets and 2050 climate neutrality objective
- The advantages and versatility of natural gas should be considered and the use of low-carbon technologies and energy carriers should be strengthened toward 2030
- Low-carbon and natural gas can contribute to the EU’s efforts to reduce emissions from the transport sector
- For the shipping industry, liquefied natural gas (LNG) offers an available solution for short- and long-distance large vessels in the short and medium term, as does clean hydrogen (including ammonia and methanol) in the longer term
- All low-carbon technologies that can contribute to the objective of climate neutrality should be supported, including renewable and low-carbon gases such as hydrogen and biomethane, as well as both nature-based carbon management and CCS and CCU applied in the industrial and energy sectors
- In the longer term, a uniform carbon pricing extended to other sectors (e.g. heating, shipping) has the potential to become the most efficient and cost-effective policy tool to achieve the EU’s climate-neutrality objective
- To scale up CCS, the EU should develop fit-for-purpose policies and regulation
- EU climate ambition for 2030: Principles to consider
- Sectoral action and potential to reduce greenhouse gas emissions by 2030
- Enabling conditions and other policies
- Climate and energy policy design
- Role of CCS and hydrogen