ESG Today writes that accelerating the approval of new projects to speed up the energy transition is also covered in the new legislation, while intensive-emission industries are also urged to set more ambitious goals in terms of renewable power deployment. EU Parliament representatives now wait for the formal approval by the EU Council.

The new renewables target share for 2030 is nearly double that of the 2021 green energy share in the EU, which was 22%. EU member states are also urged by EU officials to achieve a collective green energy target of 45%.

Permitting was also covered by the lawmakers, who mandate a faster process in this regard in order to encourage more renewable projects and to increase deployment rates. By 2030, buildings in the EU must use a share of 49% renewable energy, while transport-related emissions should be cut by 14.5% by the same year.

To encourage research and development in the field of green power sources, EU Parliament officials also want to set a target so that at least 5% of newly installed renewable energy by the next decade will be "innovative renewable energy technology".

Lead MEP Markus Pieper (EPP, DE), said that "in our pursuit of greater energy independence and CO2 reduction, we have raised our renewable energy targets. We have designated renewables as an overriding public interest, streamlining their approval process… We now urgently need an EU electricity market design and an immediate shift to hydrogen for a greener transition."