If the Governance legislation is done right, the framework can significantly contribute to implementing the EU’s fair share to achieve the long term objectives of the Paris Agreement. It can also help unlocking investor confidence and reduce transition costs while reducing the risks of stranded assets across the European economy.
On 21 September the Estonian presidency presented a second compromise text on the Commission’s proposal for the Governance of the Energy Union. Improvements have been made to the climate-related parts, but these need to be further strengthened. At the same time, other parts have unfortunately been substantially weakened because of negative inputs from member states. These need to be urgently corrected for. This briefing assessment suggests how.