EXCHANGE Volume 01, No. 1, 2023, pp. 120-123

Wanqing YU

Report on the EU’s Progress Towards Carbon Neutrality: Current Achievements and Challenges

Abstract: European countries that industrialized earlier had about 60 years to complete the transition from carbon peak to carbon neutrality, and had accumulated much experience in the field of carbon emission management. As the vanguard of carbon emission reduction in the world, EU have many good strategies to learn from in low-carbon development and transformation. Through the analysis of the EU low-carbon transformation, it is found that the important measures are to increase the proportion of renewable energy in the power system, accelerate the low-carbon development of the transport sector, accelerate the improvement of energy efficiency in the building sector, and accelerate the green upgrading of the industrial sector. The current energy crisis in the EU has hindered the progress of carbon neutrality. The unitary energy types and aggressive carbon market policies have failed to regulate energy prices. By the energy crisis triggered by the economic crisis will force the EU forgo short-term to achieve the target of SDGs requirements, but the global response to climate change and to speed up the transformation of energy is the irreversible trend.

Keywords: carbon neutrality; achievements; challenges.