IEA commendations and recommendations for Greece

IEA commendations and recommendations for Greece

Greece is to be commended for its response to the global energy crisis triggered by Russia’s invasion of Ukraine, the International Energy Agency (IEA) said in a report released on Thursday.

IEA also commended Greece for its National Climate Law, which sets ambitious decade-by-decade targets for bringing down greenhouse gas emissions to net zero by 2050.

Greece has made notable progress toward meeting these goals, including significantly reducing the share of lignite in its power mix, and setting a binding target to end the use of lignite for electricity generation by 2028.

At the same time, Greece has taken clear steps to ensure a just transition in its lignite-mining regions, the report noted.

Despite these successes, challenges remain – fossil fuels still account for most of Greece’s energy supply and stronger efforts are needed on energy efficiency, the agency said.

In its key recommendations, IEA said the government of Greece should reassess the need for investments in fossil fuel infrastructure, ensure transparent and stable legal and regulatory frameworks, adjust taxes, market regulations and financial support measures, focus building renovation programs on deep renovations that combine thermal insulation with heat pumps, and promote the replacement of old vehicle by providing incentives.

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