Evaluating the Chances of Implementing the “Fit for 55” Green Transition Package in the V4 Countries

Abstract

The European Union (EU) is a global leader in renewable energy, and it is working to maintain this position through setting high standards for itself as well as for its member states in this field. Among the goals set for 2030 in Directive (EU) 2018/2001 and changes published on 14 July 2021 is a 55% reduction in greenhouse gas (GHG) emissions (compared to 20% in 2020). The targets for individual countries vary and depend on the current level of development of renewable energy. This article focuses on evaluation of these targets in the Visegrad Group (V4) countries (Czech Republic, Hungary, Poland, and Slovakia). These are post-Communist countries that have undergone systemic transformations but still face challenges related to sustainable development in renewable energy. This article analyzes the 2030 goals and the prospects of their implementation. Evaluated criteria include greenhouse gas emissions, the share of renewable energy in energy consumption, energy consumption, energy efficiency, and energy intensity. The analyses in this article are based on a literature review, the current energy situation in each country, European climate and energy targets, comparative analyses, and our own forecasts. Our results show that V4 countries would need to revise their policies and funds allocated for green transformation, which, in turn, might change their projections of the EU climate package targets for 2030. These findings might be useful for the EU stakeholders and policymakers responsible for climate policies and implementing renewable energy targets.