Can Europe drastically cut emissions, strengthen its industry, and reduce energy bills – all at the same time?
The European Commission’s proposed amendment to the EU Climate Law to reduce net greenhouse gas emissions by 90% by 2040 sets the stage for exactly that. It’s an ambitious yet pragmatic step toward climate neutrality by 2050 and offers the clarity businesses and investors need to plan for the long term.
To meet this target, Europe will need to scale up proven, clean technologies quickly, and heat pumps are among the most impactful.
Already, they support over 433,000 jobs across around 300 manufacturing sites in Europe, with 73% of units sold made locally. If just 7% more homes switched, Europeans could save €5.4 billion each year, otherwise spent on Russian gas for home and water heating.
But this potential won’t be realised without action. The electricity-to-gas price ratio needs correction. Regulatory certainty must be strengthened, and incentives across buildings and industry should be expanded to drive uptake.
Today’s proposal will now move to the European Parliament and Council for consideration. If adopted, it will shape the post-2030 climate framework and set the pace for Europe’s clean energy transition. With smart policy choices, heat pumps can be a core part of the solution, cutting emissions while creating jobs and securing Europe’s energy future.
