The European Union (EU) launched this joint communication to propose actions to reduce climate change and address the current energy crisis. The EU states that the green energy transition is the only way to simultaneously ensure sustainable, secure and affordable energy worldwide.
To achieve these objectives, the EU external energy policy will aim to:
- strengthen its energy security, resilience and open strategic autonomy by diversifying the EU’s energy supply and boosting energy savings and efficiency;
- accelerate the global green and just energy transition to ensure sustainable, secure and affordable energy for the EU and the world;
- support Ukraine and other countries that are directly or indirectly affected by the Russian aggression;
- build long-lasting international partnerships and promote the EU clean energy industries across the globe.
Particularly concerning methane emissions, the EU will seek to:
- ensure that additional gas supplies from existing and new gas suppliers are coupled with targeted actions to tackle methane leaks and to address venting and flaring, creating additional liquidity on global markets, while ensuring significant climate benefits;
- cooperate with its fossil fuel supply partners to reduce methane emissions;
- provide technical assistance to partners to set up such mutually beneficial “You collect/we buy” schemes;
- implement the Global Methane Pledge (GMP) and the external dimension of the EU methane strategy, and;
- convene partners such as the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and the World Bank to create incentives for the rapid collection of wasted fossil gases, including methane, bundling those losses into meaningful products that can be sold to international buyers.
With regards to critical raw materials, the EU will promote the following key actions:
- establish mutually beneficial raw material value chain partnerships, beyond Ukraine and Canada;
- strengthen cooperation on raw materials value chains with Norway under the EU-Norway Green Alliance;
- reinforce the use of EU economic and trade policy tools to ensure undistorted access to international markets;
- promote global resource efficiency and circularity, notably through product design measures,
- work with international organizations such as the OECD, the IEA and IRENA on supply chains for critical raw materials used in the energy transition.