Such opportunities cannot be missed as investments in the power sector, industry, transport infrastructure or buildings will determine CO2 emissions for several decades ahead.

Focus will be on the development and validation of enabling technologies for innovative substances, materials and technological solutions for low-carbon products and less energy-intensive processes and services along the value chain, as well as on the adoption of ultra-low carbon production technologies and techniques, to achieve specific greenhouse gas emission intensity reductions.

Whilst further efficiency improvements spurred by EU regulations on vehicle emissions of CO2 will continue to represent the lowest hanging fruits in the short to medium term, low-CO2 alternatives to oil are also indispensable for a gradual decarbonisation of transport, a key objective of the Europe 2020 strategy for smart, sustainable and inclusive growth[1], towards the target of a 60% reduction of CO2 emissions from transport by 2050 set out in the "Roadmap to a Single European Transport Area – Towards a Competitive and Resource Efficient Transport System" (2011 White Paper on Transport)[2].

The Intelligent Energy Europe Programme established by Decision No 1639/2006/EC of the European Parliament and of the Council of 24 October 2006 establishing a Competitiveness and Innovation Framework Programme (2007 to 2013) (17) has been instrumental in creating an enabling environment for the proper implementation of the Union’s sustainable energy policies, by removing market barriers such as insufficient awareness and capacity of market actors and institutions, national technical or administrative barriers to the proper functionin ...[+++]g of the internal energy market or underdeveloped labour markets to match the low-carbon economy challenge.

Member States and the Union should use regulatory, non-regulatory and fiscal instruments, for example Union-wide energy performance standards for products and buildings, labelling, and ‘green procurement’, to incentivise cost-effective transition of production and consumption patterns, promote recycling, make the transition to energy- and resource-efficiency and a safe and sustainable low-carbon economy, and ensure progress towards more sustainable transport and safe and clean energy production ...[+++]while maximising European synergies in this respect and take into account the contribution of sustainable agriculture.

Wider implementation of Sustainable Urban Transport Plans including specific measures to promote low CO2-emission and energy-efficient vehicles will help reduce greenhouse gas emissions at the local level.