Making this fossil fuel crisis Europes last one

A coalition of European and international organisations, industry associations, and national NGOs is calling on the European Commission to launch an independent report to end Europe's dependence on fossil fuels. The letter argues that continued reliance on fossil fuels has caused significant economic burdens, including over €50 billion in added energy costs, and has exacerbated the human toll of the climate crisis. The proposed report would focus on five priorities: quantifying the economic burden of dependence, charting a competitive phase-out pathway using proven solutions, aligning EU and national finance with the exit, ensuring a just transition for vulnerable groups, and scaling up nature-based solutions.

• Europe's continued dependence on fossil fuels has resulted in a second crisis in four years, increasing energy bills for businesses and households by more than €50 billion.
• Climate-related events in Europe, specifically heatwaves since May 2026, have caused record temperatures, droughts, and wildfires, with the June heatwave alone estimated to have caused at least 14,000 deaths.
• The authors propose a fossil fuel exit plan based on five strategic priorities: quantifying the financial burden of dependence, identifying a competitive phase-out pathway via renewables and energy efficiency, aligning subsidies and finance with the exit, implementing a just transition for workers and vulnerable households, and investing in nature-based solutions like forests and wetlands.
• The proposed transition pathway should rely on cost-effective, proven solutions such as modern grids, circular economy solutions, and renewables, while avoiding "overhyped and unproven technologies" that could delay the transition.

APA

Carbon Market Watch (2026). Making this fossil fuel crisis Europes last one. https://carbonmarketwatch.org/wp-content/uploads/2026/08/SOTEU-2026_final-letter-3.pdf

Chicago

Carbon Market Watch. Making this fossil fuel crisis Europes last one. 2026. https://carbonmarketwatch.org/wp-content/uploads/2026/08/SOTEU-2026_final-letter-3.pdf.

Wikipedia

{{cite press release |author=Carbon Market Watch |title=Making this fossil fuel crisis Europes last one |date=24 August 2026 |url=https://carbonmarketwatch.org/wp-content/uploads/2026/08/SOTEU-2026_final-letter-3.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{carbonmarketwatch2026making, author = {{Carbon Market Watch}}, title = {{Making this fossil fuel crisis Europes last one}}, publisher = {Carbon Market Watch}, year = {2026}, month = aug, url = {https://carbonmarketwatch.org/wp-content/uploads/2026/08/SOTEU-2026_final-letter-3.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }