ENGIE's Decarbonization Pathway for Europe

This report outlines ENGIE's assessment of the optimal pathway for the decarbonization of Europe, emphasizing the urgent need for action in light of climate change. It discusses the progress made towards the 2030 Fit-for-55 objective and the challenges ahead to achieve Net Zero by 2050. The report details the importance of electrification and the deployment of low-carbon gases, highlighting that while renewables are a significant part of the energy mix, they alone cannot meet the decarbonization goals. It presents a methodology for defining Europe’s decarbonization pathway, which includes modeling energy systems across 15 European countries and assessing costs associated with various decarbonization efforts. The report emphasizes the need for substantial investments, estimated at around 2% of GDP, and discusses the potential economic benefits of transitioning to a low-carbon economy. It concludes with a call for pragmatic leadership at national and European levels to foster competitive decarbonized industries.