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Orlen SAOrlen energy sees reducing greenhouse gas emissions by 90 pct as difficult goal
Poland's largest energy concern Orlen pointed out that it fully supports the idea of sustainable development and actions for the climate and the environment, but the target announced by the European Commission to reduce greenhouse gas emissions by 90 percent by 2040 compared to 1990 levels is too ambitious and very difficult to achieve in the current geopolitical, economic and technological reality, the company said in a press release.
Orlen indicated that the key factors in setting a realistic emission reduction target for 2040 are: the lack of available and developed technologies and infrastructure, the need for technological neutrality and greater flexibility of support mechanisms, huge costs, the lack of profitability of investments and the risk of the European Union losing its competitiveness, the need for regulatory stability, as well as the lack of global consensus and the threat to the political cohesion of the European Union.
"Orlen is of the opinion that the target of a 90 percent reduction in emissions by 2040 compared to 1990 levels is currently disproportionate to the real technological, financial and political possibilities. It is necessary to re-analyse the feasibility of the target, taking into account the geopolitical, economic and social implications," the concern assessed.
It added that achieving the EU's ambitious climate target will require an unprecedented redirection of financial resources, both from the public and private sectors.
This could result in a significant reduction in Member States' budgets for other priorities, such as defence and security, health protection, education, social policy and digitisation.
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