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According to a recent European Parliamentary Research Service Cost of Non-Europe (CONE) report, ambitious and united European Union (EU) action in climate and energy policy could be very beneficial, bringing gains of up to 5.6 % of gross domestic product (GDP), equal to €1 trillion additional GDP per year in 2050, compared to a continuation of the status quo (see Figure 1). However, failure to arrive at a common approach, in particular by collectively addressing volatile energy prices and systemic ...

The 48th G7 Summit took place at Schloss Elmau, Germany, on 26-28 June 2022. Russia's war on Ukraine has heavily affected the G7's deliberations this year and created pressing new global challenges that were discussed both in the preparatory meetings and at the summit itself. The resulting communiqué focuses on supporting Ukraine, on reducing the impact of the war on the global economy, security of supply and prices of energy and food, climate challenges and the new G7 partnership for infrastructure ...

Energy poverty in the EU

Briefing 04-07-2022

In 2020, about 36 million Europeans were unable to keep their homes adequately warm. Energy poverty is a multi-dimensional phenomenon, considered to be caused by a combination of low income, high energy expenses, and poor energy efficiency in buildings. The EU has been addressing this issue in various legislative and non-legislative initiatives, most recently in the context of its climate policies and energy transition. The Gas and Electricity Directives call for the protection of vulnerable consumers ...

This infographic aims to provide an overview of some of the most important energy indicators. It is purely for information purposes and subject to change. Figures on page one are based on market data (gas and oil prices) or data supplied by market actors (LNG capacity and gas storage rates). Figures on page 2 are based on the latest publicly available Eurostat data. These data are only available retrospectively, usually on an annualised basis, and therefore do not reflect the latest state-of-play ...

Russia's war of aggression on Ukraine, beyond atrocities committed in the field, has grave consequences for the global order, risking further destabilisation of many third countries. The EU and its Member States reacted with a series of measures aimed at hindering Russia's expansionism, supporting Ukraine's defence and reconstruction, and mitigating the impact of the war on non-EU (third) countries. Parliament will use its powers of oversight in the revived 'question time' set for the June I plenary ...

Domino effects of the war

Briefing 03-06-2022

The war Russia unleashed on Ukraine has global repercussions, beyond the death toll and the human tragedy in Ukraine itself, and the resulting refugee flows and wider destabilising effects on Europe's east. This infographic depicts some of the economic consequences of the war, for Europe, but also the rest of the world.

'This is Europe' – an initiative proposed by the President of the European Parliament, Roberta Metsola – consists of a series of debates with EU Heads of State or Government to discuss their visions for the future of the European Union. Following an earlier speech to the Parliament in this context by the Estonian Prime Minister, Kaja Kallas, on 3 May 2022, the Italian Prime Minister, Mario Draghi, was the first EU leader to address the Parliament after the latter's Conference of Presidents had endorsed ...

Following Russia's invasion of Ukraine, the EU is considering how it can rapidly reduce its dependence on Russian fossil fuels. The European Parliament has called for an embargo on Russian coal, oil and gas. The European Commission's 'RePowerEU' plan will mark out the next steps.

Russia remains Europe's largest supplier of coal, oil, and gas. This poses a particular difficulty for the EU and its Member States, which are urgently seeking to reduce their energy dependence. This is not only necessary to pressure Russia economically to end its invasion of Ukraine, but also to prevent Russia from weaponising its energy supplies and threatening Europe’s energy security in future. Replacing Russian natural gas will be much more difficult than replacing oil and coal, due to differences ...

The Russian war against Ukraine has a significant impact on the EU seafood sector. Increased prices for energy and raw materials have led to high operating costs for fishermen, aquaculture farmers and fish-processing companies. The European Commission has responded with emergency measures, adapting State aid rules and activating exceptional support from the European Maritime, Fisheries and Aquaculture Fund (EMFAF).