The European Union should invest in energy efficiency now

CEE Bankwatch joins the Coalition for Energy Savings and calls for a 40% energy savings target for 2030

Brussels, 7 July 2014 – As the Commission is facing internal struggles on the EU’s future energy efficiency ambitions, CEE Bankwatch decided to join the Coalition for Energy Savings and turn up the heat in pushing for a binding and ambitious energy savings target for 2030.

CEE Bankwatch Network works across the central and eastern European region to monitor the activities of international financial institutions and propose constructive environmental and social alternatives to the policies and projects they criticise.

“If the EU implements a binding 40 percent energy savings target by 2030 then it is certain that energy efficiency measures can turn into a main engine for Europe’s economic renaissance,” says Ondřej Pašek, CEE Bankwatch Network energy coordinator.

“The European Commission should as well ensure that member states earmark enough of EU funds allocated to them to energy efficiency, and the European Investment Bank should come up with a climate policy which prioritises investments in energy efficiency and renewables before any other energy sector investments”, continues Pasek.

On 27 June, the European Council adopted a Strategic Agenda for the Union in Times of Change, highlighting the necessity to address “overdue investment needs” in a number of sectors including energy efficiency.

“The Strategic Agenda should give the Commission the mandate to think ambitiously in terms of energy efficiency. This Commission does not want to be remembered as the one who would have constrained the transition to an efficient and prosperous economy”, added Stefan Scheuer, Secretary General of the Coalition for Energy Savings.

The Coalition for Energy Savings brings together business, professionals, local authorities, trade unions and civil society associations. The Coalition’s purpose is to make the case for a European energy policy that places a much greater, more meaningful emphasis on energy efficiency and savings. Coalition members represent more than 400 associations, 150 companies, 15 million supporters, more than 2 million employees, 1,000 cities and towns in 30 countries in Europe.

Download the press release in PDF format.

Ondřej Pašek | +420 608 381 602 | ondrej.pasek[a] | Twitter: @ceebankwatch
Marion Santini | +32 2 235 20 13 | press[a] | Twitter: @EUenergysavings

Monday, 7 July, 2014