By Eduard Gismatullin – Jun 5, 2013 3:55 PM GMT+0100
Royal Dutch Shell Plc Chief Executive Officer Peter Voser said Europe needs to extend its targets for curbing greenhouse gases and promoting renewable energy by a decade through 2030.
“To actually change things you need time and we are a little bit concerned if you have a short-term target,†Voser told reporters today in London. “We favor one target, which sets action with greenhouse gas.â€
The European Union has a binding target to cut greenhouse gases by 20 percent compared with 1990 levels, increase the share of renewable energy to an average of 20 percent and a goal of boosting energy efficiency by one-fifth in 2020. The European Commission said in March a framework for the decade after 2020 is needed to give investors legal certainty, spur innovation and prepare for a global climate deal.
“We are favoring one target versus three targets,†Voser said. Europe needs “to take a longer term view and have one goal.â€
Voser expects energy suppliers and consumers to develop “the right energy mix†where carbon sequestration, renewables and gas will all play a “major role.â€
The EU’s regulatory arm in March began a debate to establish a framework for renewables, energy efficiency and greenhouse-gas curtailment targets for 2030.
Shell, Europe’s largest oil company, is working on carbon capture and storage and biofuel projects in Europe.
To contact the reporter on this story: Eduard Gismatullin in London at [email protected]
To contact the editor responsible for this story: Will Kennedy at [email protected]
