WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 315
Market Data
Climate Data
ENERGY IN
THE REGIONS
HOME
Stakeholder pressures
FIGURE 15
Energy transition 2023 new public authorities' interventions,
reinforcing climate change action plans (extract).
U.S.
EU
U.S. DOE 昀椀nalizing Energy E昀케ciency Standards
Growing stakeholder expectations for climate action is
Revised Renewable Energy Directive (RED III):
for Commercial Unitary Air Conditioners and
a key trend shaping the energy landscape in 2023. It is
The European Union has updated its Renewable
Heat Pumps, Circulator Pumps, Dishwashers, and
a major concern for organizations and as a result, they
Energy Directive to increase the binding target for
Miscellaneous Refrigeration Appliances-Delivering
will ramp up their sustainability e昀昀orts. Science-based
renewable energy to 45% by 2030. This revision aims
Savings to Consumers as Directed by Congress and
targets will become the bare minimum and investments
to accelerate the adoption of renewable energy
with Strong Industry and Stakeholder Support
in renewable energy solutions will continue to rise
sources across member states
EU
EU
Energy Act 2023 received Royal Assent and became
In 2023, the EU adopted a uni昀椀ed batteries
legislation in the UK’s history.” Exactly a month later,
carbon costs as products produced within the EU. This
regulation introducing sustainability, recycling, and safety
the UK Department for Business and Trade published on
regulation aims to level the playing 昀椀eld and encourage
requirements applicable to design, production, and waste
November 26, 2023, a UK battery strategy setting out
global emission reductions. Hydrogen is a critical
management of batteries produced or sold in the EU.
the UK government’s vision for the country to achieve a
component in the CBAM, which aims to prevent carbon
globally competitive battery supply chain that supports
leakage by ensuring that imported goods are subject to
economic prosperity and the net zero transition, following
the same carbon costs as those produced within the EU
a call for evidence launched in August 2023.
WEMO 2024
law in what is described as “the biggest piece of energy
has implemented the CBAM to prevent carbon leakage
and ensure that imported goods are subject to the same
Source: Secondary research
UK
315
Carbon Border Adjustment Mechanism (CBAM): The EU
