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The DecarbHeat Initiative is committed to supporting the European Green Deal

PUBLISHED: December 12, 2019

As part of the Decarbheat initiative, which gathers several heating and cooling industry associations with the objective to advocate for European policies that are in line with the decarbonisation of the heating and cooling sector, EGEC co-signed a press release on the topic of the European Green Deal.

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POLICY DOCUMENTS

Coalition of stakeholders call for an increase in EU climate and energy ambition

PUBLISHED: December 9, 2019

EGEC, as part of the Coalition for Higher Ambition, a unique gathering of businesses, investor groups, trade unions, local and regional authorities, and NGOs, published a statement to urge the Commission to come forward with a proposal to increase the EU’s climate target to at least -55% of GHG emissions reductions by 2030 compared to 1990 levels within the first 100 days of their mandate. It is the first time that this broad group of stakeholders take a joint position on the EU’s 2030 target and its revision timeline.

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POLICY DOCUMENTS

Joint Renewable Industry Call: Europe needs to be net-zero carbon by 2050, implementation must start now

PUBLISHED: November 27, 2019

The European renewable industries welcome the decision by President Elect of the Commission von der Leyen to enshrine the objective of net-zero carbon emissions by 2050 into EU law.

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POLICY DOCUMENTS

Letter to Mr Timmermans, Executive Vice-President of the European Commission, outlining key requirements to make the European Green Deal sustainable, inclusive and effective.

PUBLISHED: November 27, 2019

Read our letter to Mr Timmermans, Executive Vice-President of the European Commission, outlining key requirements to make the European Green Deal sustainable, inclusive and effective.

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POLICY DOCUMENTS

EIB Energy Lending Policy: No more funding for fossil fuel projects from 2022

PUBLISHED: November 15, 2019

The European Investment Bank is the largest public development bank, providing financing to a wide array of projects, notably in the energy sector. Yesterday, the EIB reached an agreement that it would stop providing funding to fossil fuel projects from 2022 owards. This development is a crucial step towards the redirection of financing to the energy transition, although the Energy Lending Policy adopted by the Bank are not quite on par with EGEC's expection. Indeed, as the largest public development bank, the EIB has an outsized impact on the allocation of financing to the energy sector, and as such it represents a model to follow for other financial institutions. The Bank has for instance previously been a pioneer in setting criteria that discriminate against financing coal projects, a stance now taken by many major financial institutions. The updated Energy Lending Policy constitute a template for other public and private financial institutions to also ban lending to fossil fuel projects. EGEC was very active in promoting such a shift in the EIB's lending activities in the energy sector, and was advocating for a ban on fossil fuel lending from 2020. EGEC notably co-signed several statements to that end, in particular with the renewable energy industry. However, the decision to stop funding from 2022 - while it will still induce the development of likely stranded fossil fuel assets, or locking in new fossil fuel emissions - does still represent a crucial step in reshaping the energy sector. Some further caution about the updated energy lending policy should also be applied, considering the existence of several loopholes in the policy. Further information will follow for EGEC members.

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POLICY DOCUMENTS

Ecodesign: a key first step for fair competition for geothermal heat pump systems

PUBLISHED: October 11, 2019

The Ecodesign framework is undergoing review in order to adapt the energy performance requirement and the labelling of applicances for heating and cooling in particular to reflect changes in technologies.

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POLICY DOCUMENTS

Joint industry letter for the EIB to stop financing fossil fuels

PUBLISHED: October 9, 2019

The European Investment Bank is currently in the process of drafting its updated energy lending policy. As the European Union is progressing towards decarbonisation, and the 2050 horizon is nearing quickly, EGEC joined other industry associations and think tanks to call for the EIB to promptly stop funding fossil fuel projects.

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POLICY DOCUMENTS

EGEC Response to the public consultation on sustainable finance

PUBLISHED: September 20, 2019

Sustainable finance is an increasingly important topic in European policy making. A proposed regulation by the European Commission on this topic will have a major impact on the private financial sector, and its relationship with geothermal and other renewable energy investments.

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POLICY DOCUMENTS

EGEC Response to the Horizon Europe public consultation

PUBLISHED: September 15, 2019

Download EGEC's inputs to the public consultation.

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POLICY DOCUMENTS

EGEC Position on the revision of the State Aid guidelines

PUBLISHED: July 18, 2019

The State Aid Guidelines on Energy and the Environment were initially release to adapt the rules on public support for the energy sector from a competition law perspective to reflect notably the framework of the 2020 EU Climate and Energy objectives. The purpose of this review is to put the State Aid framework in line with the 2030 Clean Energy for All European package, and reflect the changing market dynamics in the energy sector.

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