EU Climate Commissioner Hoekstra Calls for Tripling Renewable Energy Capacity by 2030

EU Climate Commissioner Wopke Hoekstra, speaking at a ministerial dialogue on scaling up investments to triple renewable energy capacity and double energy efficiency, emphasized the transformative potential of renewables for economies, job creation, and the fight against climate change.

"Last year in Dubai, we made a breakthrough. We reached a consensus that the fossil fuel era must end. We committed to what many, including myself, consider a bold step: tripling renewable energy capacity and doubling energy efficiency by 2030. For me, this commitment is not just a goal but, frankly, the best investment we can make," Hoekstra stated.

He noted that achieving these targets could cut global greenhouse gas emissions by 10 billion tons by the end of this decade, a reduction greater than the total emissions of the European Union over three years. "It is an ambitious vision, but I believe it is achievable," he said.

Hoekstra pointed out that emissions in Europe declined by 8% last year, driven by rapid growth in renewable energy. "Today, more than half of Europe's electricity comes from wind and solar, surpassing all fossil fuels combined. However, looking globally, emissions still rose by 1.3% last year. This highlights our collective challenge. We need to accelerate and turn our clean energy targets into real projects on every continent and in every economy," he urged.

The commissioner outlined three key areas for progress:

1. Energy Infrastructure:

"Tripling renewable energy and global electrification require substantial infrastructure upgrades. The International Energy Agency forecasts the need for 25 million kilometers of new and upgraded power lines by the end of this decade. Europe is investing in this through the €300 billion Global Gateway strategy, funding projects worldwide—from upgrading infrastructure in Nepal to building new high-voltage lines between Ecuador and Peru. This is part of our global outreach," Hoekstra highlighted.

2. Critical Minerals:

"Clean technologies need sustainable and reliable sources of minerals such as lithium, cobalt, and rare earth elements, which are the backbone of batteries, turbines, and solar panels. Global demand for these minerals is expected to triple by 2030, with lithium demand alone potentially increasing 40-fold by 2040. Extraction and processing must be sustainable and benefit local communities. As co-chair of the UN Critical Minerals Panel, Europe is committed to high standards for supply chains and has received 170 proposals globally for mining, processing, and recycling projects, creating real opportunities for producing countries," he added.

3. Investment Mobilization:

"Renewables, grids, and minerals all require significant capital. Europe remains the largest source of climate finance, contributing $31 billion annually. However, public funding alone is insufficient. Engaging the private sector is crucial to meet clean energy transition needs. Today, 760 million people still lack access to electricity, especially in sub-Saharan Africa, which has vast clean energy potential. Our task is to support these regions by lowering capital costs to provide access to clean energy worldwide. At the upcoming G20 Leaders’ Summit, President von der Leyen will unveil a new initiative alongside South Africa and Global Citizen," the commissioner stated.

"Tripling renewables and doubling energy efficiency are ambitious but achievable goals. They will reduce dependency on fossil fuels and bring us closer to net-zero emissions. Our main task is to manage this transition wisely so that everyone benefits from clean energy. The EU stands ready to support this effort," Hoekstra concluded.