Post COVID-19 Recovery and 2050 Climate Change Targets: Changing the Emphasis from Promotion of Renewables to Mandated Curtailment of Fossil Fuels in the EU Policies

Kyriakos Maniatis, David Chiaramonti and Eric van den Heuvel
Additional contact information
Kyriakos Maniatis: Independent Expert, 1650 Beersel, Belgium
David Chiaramonti: “Galileo Ferraris” Energy Department, Polytechnic of Turin, 10129 Turin, Italy
Eric van den Heuvel: Studio Gear Up, 1019 Amsterdam, The Netherlands

Energies, 2021, vol. 14, issue 5, 1-44

Abstract: The present work considers the dramatic changes the COVID-19 pandemic has brought to the global economy, with particular emphasis on energy. Focusing on the European Union, the article discusses the opportunities policy makers can implement to reduce the climate impacts and achieve the Paris Agreement 2050 targets. The analysis specifically looks at the fossil fuels industry and the future of the fossil sector post COVID-19 pandemic. The analysis first revises the fossil fuel sector, and then considers the need for a shift of the global climate change policy from promoting the deployment of renewable energy sources to curtailing the use of fossil fuels. This will be a change to the current global approach, from a relative passive one to a strategically dynamic and proactive one. Such a curtailment should be based on actual volumes of fossil fuels used and not on percentages. Finally, conclusions are preliminary applied to the European Union policies for net zero by 2050 based on a two-fold strategy: continuing and reinforcing the implementation of the Renewable Energy Directive to 2035, while adopting a new directive for fixed and over time increasing curtailment of fossils as of 2025 until 2050.

Keywords: climate change; Paris agreement 2050 targets; energy; fossil fuels; renewable energy sources; COVID-19; European Union policies (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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