The climate and energy package is a set of binding legislation aiming to ensure that the European Union meets its ambitious "20-20-20" climate and energy targets for 2020, namely:
- A 20% reduction in EU greenhouse gas emissions from 1990 levels;
- Raising the share of EU energy consumption produced from renewable resources to 20%;
- A 20% improvement in the EU's energy efficiency.
The climate and energy package was adopted in 2009. The EU also offered to increase its emissions reduction to 30% by 2020, provided that other major economies in the developed and developing worlds commited to undertake their fair share of a global emissions reduction effort.
The 20-20-20 targets represent an integrated approach to climate and energy policy, but are also headline targets of the Europe 2020 strategy for smart, sustainable and inclusive growth. It is estimated that meeting the 20% renewable energy target could have a net effect of creating around 417.000 additional jobs; similarly achieving the 20% energy efficiency target could increase net employment by around 400.000 jobs.
The 2020 climate and energy package includes four pieces of complementary legislation:
- Reform of the EU Emissions Trading System (EU ETS)
- National targets for non-EU ETS emissions
- National renewable energy targets
- Carbon Capture and Storage (CCS)
Note that the climate and energy package does not address the energy efficiency target directly. This is being done through the 2011 Energy Efficiency Plan and the Energy Efficiency Directive.