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Europe’s energy import bill for fossil fuels will drop by around €285 billion by 2030.

4C Offshore | Simon Powles
By: Simon Powles 24/10/2014 Chris Anderson

Commenting on the agreement, Connie Hedegaard said: 'The EU climate action commissioner is very proud that the 28 EU leaders, despite economic uncertainty and other severe international crises, were able to get their act together on this pressing climate challenge.

A binding 40% CO2 reduction effort domestically in Europe is not an easy task. It can only be achieved through a major transformation in all parts of the society. That is why the EU leaders' decision to adopt the Commission's proposal is an ambitious and important step forward. Important not only to Europe and the Europeans, but also to the rest of the world. We have sent a strong signal to other big economies and all other countries: we have done our homework, now we urge you to follow Europe's example.

In order to get Europe on the right track towards a low-carbon society, it is extremely important that the leaders also accepted the renewables target binding at the EU level just as the Commission proposed. And it is good that they agreed to do more on energy efficiency, although here the Commission wanted more ambition.

But now the direction towards 2030 has been set. States, regions, municipalities, businesses, investors and citizens now all know where we are heading. This is a very good day for Europe's climate politics.'

Energy and Climate Change Secretary Edward Davey said:
“It lays down the gauntlet to the world to come forward with ambitious climate targets, reforms EU energy policy so it’s flexible and affordable, and tackles energy security - reducing Europe’s energy import bill for fossil fuels by around €285 billion by 2030.

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