|At a glance|
The low carbon Roadmap sets out cost-efficient pathways for key economic sectors for achieving an overall 80% reduction in the EU’s emissions by 2050 (compared to 1990). This would be accomplished solely through reduction measures within the EU and does not include the possible use of international credits to offset emissions. To achieve this long-term target cost-efficiently, the EU should reduce its domestic emissions by 40% and 60% by 2030 and 2040, respectively. To achieve a 80% reduction in emissions in the EU by 2050, investment in clean and energy-efficient technologies needs to be increased by 1.5% of GDP per year, or €270 billion. This investment will be largely paid back, or even over-compensated, through lower energy bills; fuel savings amount to € 175-320 billion on average per year by 2050. The low carbon economy will also improve air quality, reducing air pollution control and health care costs by up to €88 billion a year by 2050. Investments in clean technologies will spur economic growth, as well as preserve and create jobs. Clean technology is a booming sector, which other parts of the world are also investing in. The EU must stay in pole position in the low carbon race to reap the benefits of green growth.
More info: Roadmap for moving to a competitive low-carbon economy in 2050
The measures of the Roadmap have direct effect on our sector. Investing early in the low carbon economy can create new jobs both in the short and the medium term. The recovery of the construction sector could get a significant boost through a major effort to accelerate the replacement of existing buildings and building of energy efficient houses.