Here we are ! Finally, after 18 months of big talks and long-term objectives about #EUGreenDeal, @EU_Commission releases its mammoth package #FitFor55 #FF55.
Here is my key take-aways: the good, the bad, the ugly. #Thread 👇
Good 1: that’s a massive policy push to transform #EUGreenDeal promises into concrete actions to change our ways of life. @FransTimmermans recognises this will be “bloody hard”, but righly underlines that our future depends on it.
Good 2: Creation of the Social Climate Fund that we @DelorsInstitute have been calling for years. This Fund should start as of 2025 with EU budget, and could invest up to 70Bn€ from 2025 to 2032 to finance national plans to ensure social justice in the transition. #EnergyPoverty
Good 3: New oil-powered car sales will be banned in the EU as of 2035. Alternative fuel infrastructure directive becomes a regulation. That’s what the @IEA told us we must decide at EU and global level to promote #ElectricVehicles #EV to deliver climate neutrality by 2050.
Good 4: reform of existing carbon markets that should ↗️ the #ETS #CarbonPrice, provide💰to Member States & EU #InnovationFund so they can support innovation, incl. w/ Carbon Contracts for difference #CCfD. Creation of #CBAM to protect EU industry from risks of #CarbonLeakage
Good … BUT. #EnergyEfficiency and #RenewableEnergy targets for 2030 are increased (36% EE final energy, 39% EE primary energy, 40% Renewables). BUT. Those are only EU-level target without legally-binding national targets.
Bad 1: EU heavy industry will continue to benefit from subsidies to pollute (free ETS allowances). #Alumnium #Cement #Fertilizers #Steel free allowances will gradually decrease in 2025-2035 until #CBAM ramps up. That’s far too late & delays innovation.…
Bad 2: creation a new EU carbon market on buildings and road transport #ETS2 is a massive political risk. I already fear a big anti-EU and/or anti-climate backlash. #YellowVests #BonnetsRouges
Ugly 1: @EU_Commission has not proposed a serious price control mechanism for the new EU carbon market on buildings and road transport (#ETS2). MAJOR risk of seeing market price skyrocket & hurt the purchasing power of Europeans. That’s also a MAJOR difference with 🇩🇪experience.
Ugly2: lack of full earmarking of #ETS2 revenues for social compensation and green transition, risk of using part of ETS2 revenues to repay COVID recovery debt, which will be very unpopular.
Ugly3: lack of clear focus on low income and energy poor European families. EU & Member States should first and foremost use ETS2 revenues to life all Europeans from #EnergyPoverty.
@threadreaderapp can you unroll this?

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with Thomas Pellerin-Carlin

Thomas Pellerin-Carlin Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @ThPellerin

10 Sep 20
👏@IEA for publishing such a great work on #innovation #energy #climate
Here are my 6 takeways from this 400p document #Thread
Full @IEA document here 👉…
1. We can already cut global emissions by 55% with already commercially available technologies (i.e. early adoption + mature). But we also need to further develop technologies to get to #NetZero
2. Technologies for #buildings renovation and ligh-duty #transport are already largely there
Read 11 tweets
21 Jul 20
This morning @EUCouncil agree on historic 3y spending to kickstart the economy (750Bn€, w/ 390Bn grants & 360Bn loans) + 7y #EUbudget to invest in the long term (1.074Bn€). Before @Europarl_EN decides on this deal, let's see what’s in it: the good, the bad and the ugly. #Thread
Good n°1: Good news: there is a deal, and we are in July. I personally did not expect them to find an agreement before the fall, so having a deal in mid-July is already a positive piece of news in itself.
Good n°2: The overall architecture has not changed. Yes, less money will be invested than what was originally proposed (more👇), but we still get a reasonably sized budget (1.074bn€ over next 7y) + significant input of fresh money (390Bn€ in grants) that is good for #recovery
Read 15 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!