1. 1 Roadmap for moving to a low carbon economy in 2050 JosDelbeke, Director General DG Climate Action European Commission

3. in the context of necessary reductions by developed countries, appropriate action by developing countries Map the road from now to 2050!

4. 3 Building on EU Climate Action until 2020… 3

5. 4 EU implements its 2020 pledge Cut GHG emissions by 20% wrt. 1990 EU Emissions Trading System cuts emissions from industrial installations, aviation from 2012 National emission targets cover buildings, services, agriculture, transport… Increase share of renewables in EU’s energy mix to 20% Improve energy efficiency by 20% (compared to business as usual projections)  EU has taken significant steps towards -20% emissions by 2020 but still challenging

7. EU ETS: fosters clean energy production (100 Mt CO2 cut in 2009 from less coal)

8. Policies for buildings, energy-using products: EU emissions down since 20045

9. 6 Climate change at heart of Europe 2020 strategy EU economic strategy integrates 2020 climate goals, at highest level EU to improve its resource efficiency for “Smart, sustainable and inclusive growth” EU increasingly depends on imported fossil fuels in tensed global markets EU strong in manufacturing industries, other regions invest in green growth More frequent and severe floods, storms, heat waves, droughts would impact our agriculture, tourism, transport, health 2005 : US$ 228 billion

10. 7 …looking into 2050 horizon 7

12. Leadership by developed countries: -25-40% below 1990 by 2020, -80-95% by 2050

13. Deviation from BAU for developing countries~ -15-30% from BAU by 20208

16. 11 How to reduce EU emissions in the context of long-term global action 11

18. 14 All sectors, sources to contribute consistently Across sectors: R&D and Deployment, e.g. Implement Strategic Energy Technology Plan Leverage private sector investments; provide clarity for long term investments Lift remaining barriers to energy efficiency Leave no sector aside, e.g. reap cost-effective potential for emission reduction in agriculture from now to 2030

19. 15 Investing in our low-carbon future, reaping opportunities 15

20. 16 Investing in a low carbon future Moving along cost-effective pathway to 2050: significant increase in domestic investments EU additional investment: € 270 bn/yr 2010-2050, 1.5% GDP built environment (buildings and appliances): € 75 bn. transport (vehicles and infrastructure): € 150 bn. power (electricity generation, grid): € 30 bn. Note: Not an extra cost, but an investment in the EU economy Delaying action increases overall costs R&D and early demonstration/deployment essential Resulting fuel cost savings: € 175 to 320 bn./yr. (average on 2010-2050)

21. 17 Global climate action – energy security benefits at global level Benefits highest with global action, that results in overall lower fuel costs, across regions EU long-term action in the context of global action would make Europe’s economy more energy secure: Halves imports of oil and gas compared to today Saving 400 billion € of the oil and gas import bill by 2050, equivalent of >3% of today’s GDP Safeguards against macro-economic impacts of future energy price hikes 17

25. Potential net job creation up to 1.5 million by 2020

26. Use auctioning and tax revenues for reduction of labour costs, spur investments and R&D, future jobs