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The Energy-climate Package and Realisation of its Objectives within the Context of the Sustainable Development of the European Union

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Pach-Gurgul A.
Central European Review of Economics & Finance
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2015
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issue Vol. 10, No 4
75-90
EN
The climate policy of the European Union, concerning the struggle against global warming, concentrates, among others, on the realisation of the objectives of "the energy-climate package 3x20" adopted by the European Council, envisaging a 20% reduction of greenhouse gas emissions, a 20% increase in energy efficiency and a 20% share of energy produced from renewable sources in the overall energy balance by 2020. The commitment to meet these objectives has been underlined with directives aimed at promoting the use of renewable energy sources, the reduction of greenhouse gas emissions, the improvement and extension of the European Union Emission Trading Scheme (EU ETS) geologic storage of carbon dioxide and the public support for the actions aiming at environmental protection. The agreed energy-climate package means that EU member states are going to face many challenges, imposing on them the obligation to take a number of measurable steps towards implementation of these directives. On the one hand, the main objectives of the package fit very well into the concept of sustainable development, whilst, on the other, meeting these objectives is very costly and controversial, in particular for countries whose energy is based on conventional sources. What is the essence of the energy-climate package given the climate change theory and within the context of sustainable development? What has been the success of the realisation of the package so far? These are the main research questions in this paper.(original abstract)
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