EU presents new energy and climate policy package

A reduction in greenhouse gas emissions by 40% below the 1990 level, an EU-wide binding target for renewable energy of at least 27%, are among a set of new policies announced here Wednesday as a new EU framework on climate and energy for 2030. "Climate action is central for the future of our planet, while a truly European energy policy is key for our competitiveness. Today's package proves that tackling the two issues simultaneously is not contradictory, but mutually reinforcing," said the President of the European Commission, Jose Manuel Barroso, presenting the framework in a press conference. "An ambitious 40% greenhouse reduction target for 2030 is the most cost-effective milestone in our path towards a low-carbon economy. And the renewables target of at least 27% is an important signal: to give stability to investors, boost green jobs and support our security of supply," he noted. On his part, EU Energy Commissioner Gunther Oettinger told the joint press conference that : "The 2030 framework is the EU's drive for progress towards a competitive low-carbon economy, investment stability and security of energy supply." The 2030 framework will now be debated at the highest level, in particular in the European Council , which represents the 28 EU governments , and the European Parliament.