ENGIE's Decarbonization Pathway for Europe

This technical report outlines ENGIE's assessment of the optimal pathway for Europe's decarbonization, emphasizing the need for a comprehensive energy transition to achieve the Net Zero by 2050 objective. The report discusses the importance of low-carbon technologies and the necessity for significant investments, estimated at around 2% of GDP, to facilitate this transition. It highlights the progress made in electrifying buildings, transport, and industry, noting that renewables now account for nearly half of European power consumption. However, it also points out that electrification alone will not suffice to meet the Net Zero challenge, particularly in hard-to-abate sectors. The report details the required scaling of affordable decarbonized gases and stresses the urgency for pragmatic leadership at both national and European levels to foster competitive decarbonized industries. Furthermore, it presents solutions and proposals aimed at contributing to the ongoing debate on climate action and energy transition in Europe.