Young Travellers and Green Travel in the Post-COVID Era

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The strategic objective of world climate policy is the decarbonization of industries, aiming to achieve “net-zero” emissions by 2050, as outlined in the European Green Deal and the Paris Agreement. This transition entails increasing the utilization of renewable energy sources (RES) in industrial energy consumption, thereby transforming economies from reliance on fossil fuels to sustainable alternatives. However, this shift poses a significant challenge for many EU countries, with varying degrees of success in adaptation. This paper investigates the process of decarbonizing industries by analyzing trends in the adoption of RES in EU countries and evaluating their progress toward climate targets. Utilizing time series analysis of production, total energy usage, and the proportion of renewables in industrial energy consumption, the study compares two groups of countries: longstanding EU members and newer additions. The aim is to forecast the trajectory of RES integration in industry and assess the feasibility of meeting the targets outlined in the European Green Deal. The findings reveal a considerable gap between the set targets and projected outcomes, with only a few countries expected to meet the EU’s 2030 goals. This is highlighted by disparities in RES shares across member states, ranging from 0.0% to 53.8% in 2022. Despite notable increases in the absolute use of renewable energy, particularly in central and eastern European nations, substantial challenges persist in aligning industrial sectors with EU decarbonization objectives.

Section: Information and Communicationmentioning

confidence: 99%

“…Finance and banking institutions are integrating environmental, social, and governance (ESG) criteria into their investment decisions [90,91]. Support for green financing and investments in sustainable projects reflects a shift toward aligning financial practices with decarbonization objectives [92,93].…”

Section: Information and Communicationmentioning

confidence: 99%

Renewable Energy Share in European Industry: Analysis and Extrapolation of Trends in EU Countries

Gajdzik,

Nagaj,

Wolniak

et al. 2024

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“…In the European policy of the industrial concepts I 4.0 and I 5.0 [68,69], it is postulated that new technologies should be aimed at decreasing energy consumption. Even the tourism sector is incorporating green policies and promoting RESs and decarbonization [70].…”

Section: Lack Of Financingmentioning

confidence: 99%

“…Long-term power purchase agreements (PPAs) provide revenue stability for project developers. Funding research and development efforts to advance renewable energy technologies and make them more cost-effective is a key strategy for long-term sustainability [70]. Engaging in international diplomacy efforts, including participation in global climate agreements, can enhance the profile of renewable energy and create diplomatic opportunities for collaboration [71].…”

Section: Lack Of Financingmentioning

confidence: 99%

Barriers to Renewable Energy Source (RES) Installations as Determinants of Energy Consumption in EU Countries

Gajdzik,

Wolniak,

Nagaj

et al. 2023

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The article presents an analysis of the statistical relationship between the determinants of and barriers to the development of renewable energy sources (RESs) in the macroeconomic system and the development of renewable energy source consumption in individual European Union countries. The article considers four key categories of RES development barriers in the European Union: political, administrative, grid infrastructural, and socioeconomic. The work is based on publicly available historical data from European Union reports, Eurostat, and the Eclareon RES Policy Monitoring Database. The empirical analysis includes all 27 countries belonging to the European Union. The research aimed to determine the impact of all four types of factors, including socioeconomic, on the development of RESs in European Union countries. The analysis uncovered that describing the European Union as a consistent region regarding the speed of renewable energy advancement and the obstacles to such progress is not accurate. Notably, a significant link exists between a strong degree of societal development and the integration of renewable energy sources. In less prosperous EU nations, economic growth plays a pivotal role in renewable energy development. Barriers of an administrative nature exert a notable influence on renewable energy development, especially in less affluent EU countries, while grid-related obstacles are prevalent in Southern–Central Europe. In nations where the proportion of renewable energy sources in electricity consumption is substantial, an excess of capacity in the renewable energy market significantly affects its growth.

“…The third area of action in the decarbonization strategy of EU countries is reducing fossil fuels in the economy, especially in industries [13][14][15][16] but not limited to them; this also extends to other sectors, such as transportation and tourism [17][18][19]. In addition to actions within these three strategies, the literature also explores other supportive decarbonization measures, such as implementing efficient emission markets, integrating carbon capture technologies, promoting international cooperation [20], supporting environmentally friendly behaviors and sustainable development among current generations [21,22] and modeling scenarios for integrating sectors, which support decarbonization [23].…”

Section: Introductionmentioning

confidence: 99%

The Impact of Deep Decarbonization Policy on the Level of Greenhouse Gas Emissions in the European Union

Nagaj,

Gajdzik,

Wolniak

et al. 2024

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The Green Deal, a cornerstone of the European Union’s climate goals, sets out to achieve a substantial 55% reduction in greenhouse gas emissions by 2030 compared to 1990 levels. The EU’s decarbonization strategies revolve around three pivotal avenues. First, there is a focus on enhancing energy efficiency and decreasing the energy intensity of economies. Second, concerted efforts are made to diminish the reliance on fossil fuels, particularly within industrial sectors. Lastly, there is a deliberate push to augment the share of renewable energy sources in the final energy consumption mix. These measures collectively aim to propel the decarbonization of EU economies, establishing EU member countries as global leaders in implementing these transformative processes. This manuscript seeks to evaluate the efficacy of three primary decarbonization strategies adopted by EU economies, namely the enhancement in energy efficiency, the promotion of renewable energy consumption and the reduction in fossil fuel consumption. The objective is to discern which strategies wield a decisive influence in achieving decarbonization goals across EU countries. The analysis encompasses all 27 member states of the European Union, spanning from 1990 to 2022, with data sourced from reputable outlets, including Eurostat, Our World in Data and the Energy Institute. Research findings underscore that, in the realm of decarbonization policies, statistically significant impacts on carbon dioxide emission reduction are attributable to the strategies of improving energy efficiency and augmenting the share of renewables in energy consumption across almost all EU countries. Conversely, the strategy with the least impact, embraced by a minority of EU member states, revolves around diminishing the share of fossil fuels in primary energy consumption. This approach, while statistically less impactful, is intricately linked with transitioning the economies toward renewable energy sources, thus playing a contributory role in the broader decarbonization landscape. The uniqueness of this research lies not only in its discernment of overarching trends but also in its fervent advocacy for a comprehensive and adaptive approach to EU decarbonization policy. It underscores the enduring significance of prioritizing energy efficiency, endorsing the integration of renewable energy and acknowledging the distinctive dynamics inherent in diverse regions. The study accentuates the necessity for nuanced, region-specific strategies, challenging the conventional wisdom of a uniform approach to decarbonization. In doing so, it accentuates the critical importance of tailoring policies to the varied energy landscapes and transition strategies evident in different EU member states.