EY comments on European Commission's 2030 emissions targets announcements

22 January 2014

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Ben Warren, Environmental Finance Leader at EY said:

“At a time when green energy policy appears to be under fire in some quarters, the EU's reaffirmed commitment towards emissions reductions and a binding renewables target are a welcome sign. Whether these new targets are backed up by member states taking more immediate positive action remains to be seen.

“Long term policy certainty and stability are undeniably important in order to attract investment in the sector, so today’s announcements are most welcome. However, what is also needed urgently, if the lights are to be kept on, is brave policy making in the immediate term to continue to drive down the cost of renewable energy investment, make projects financially compelling and avoid passing the cost of a balanced energy future to the next generation of tax payers.”