The European Commission is proposing a 90% reduction in EU greenhouse gas emissions by 2040 compared to 1990. The Commission plans to electrify half of the European economy, compared to only 22% today.
To achieve this objective, all sectors such as transport, industry, construction and even agriculture will have to transform. This transition has a cost: 1,500 billion euros per year, according to Brussels. The idea of this 2040 Climate plan is to reduce polluting fossil fuels by 80% and to switch to low-carbon electricity produced on European soil.