European Commission urges member states to work towards meeting 2030 energy targets

The European Commission released a report on the 11th, urging EU member states to submit the National Energy and Climate Plan as soon as possible, while at the same time stepping up regional coordination, solving bottlenecks, and striving to achieve the EU's 2030 energy conservation and emission reduction targets.

The report points out that coordination among member states, as well as market integration and joint action, should be strengthened to address new challenges, including increased energy poverty, energy price differences compared with other global competitors, and new key dependence risks. The report calls for partnerships with industry to accelerate the development of net-zero technology and strengthen the EU's manufacturing base.

The report said that the EU Innovation Fund will be used to fund innovative low-carbon technology demonstration projects, with a budget of approximately 40 billion euros by 2030. In addition, the EU Social Climate Fund will use at least 86.7 billion euros between 2026 and 2032 to support the most vulnerable groups such as energy-poor households during the green transformation process. The money comes from income from the EU carbon emissions trading system and co-funding from member states.