The European Green Deal as a framework for the environmental transformation of the EU energy market

Abstract

Introduction. In today’s era, when the imperative of reducing greenhouse gas emissions and promoting sustainable development of green energy is paramount, the European Union is demonstrating a significant commitment to the green transformation of the energy market. The escalation of demand for green technologies, energy resources and energy efficiency marks a new stage in energy relations, where EU countries are leading the way in implementing innovative solutions to ensure environmental friendliness and sustainability in the energy sector. In its efforts to green energy, the European Union is using various strategies and legislative measures, including “Fit for 55”, “REPowerEU” and the Green Deal, which serve as key instruments to facilitate an effective transition to “green” energy. These initiatives aim to reduce dependence on coal and other traditional energy sources, while promoting the expansion of renewable sources such as solar and wind power.

They also include the introduction of energy efficiency schemes and mechanisms to reduce CO2 emissions, including the introduction of a carbon price adjustment, and increased support for electric vehicles and other clean technologies. In line with these efforts, EU governments are ready to make significant changes to their energy policies and regulations to achieve ambitious targets for mitigating environmental impacts and transitioning to clean energy.

Purpose of the research. Comprehensive analysis of the process of environmental transformation of the European Union energy market, with a focus on assessing the effectiveness of legislative initiatives and strategic programs (in particular: “Green Deal”, “Fit for 55”, “REPowerEU”) in the transition to sustainable energy sources and reducing greenhouse gas emissions. The study aims to identify key factors contributing to the modernization of the energy sector, as well as to develop practical recommendations for overcoming potential barriers to the implementation of the green course.

Research methods. To achieve the goal, the work used a set of methods, including documentary and content analysis of strategic programs, a comparative and systematic method for assessing the economic and environmental consequences of the implementation of measures, which allows integrating both qualitative and quantitative data for a comprehensive study of the green transition process.

Results. The process of energy market transformation is considered, and the measures taken in the process of greening the EU energy market within the framework of such projects as: “Fit for 55”, “REPowerEU”, Green Deal, are analyzed, and their effectiveness is considered. The article develops possible solutions to potential problems in the process of ecological transformation, and also suggests ways to increase the efficiency of the green transition of the EU energy market

Perspectives. Further research can be focused on developing detailed recommendations for optimizing the legislative framework and implementing innovative technological solutions aimed at accelerating the green transition of the EU energy market.