Recent World Bank energy report stressed upon the need of increased usage of
renewable energy sources and highlighted importance
of
renewable energy and energy
efficiency in cutting greenhouse gas effect apart from economical benefits of such projects. It is ideal that European Union leads the world by setting an example.
That is exactly what it plans to do, launching a plan to boost the renewable fuels.European Union Energy Commissioner Andris Piebalgs said on Wednesday that the Union must increase its use of biomass and biofuels to offset the bloc's dependence on oil and gas imports. "This plan will reduce Europe's dependence on imported energy, cut greenhouse gas emissions, protect jobs in rural areas and extend the EU's technological leadership in these areas," the Energy Commissioner said in a statement. He said the plan outlined measures for using fuel from agriculture and waste materials in the heating, electricity and transport sectors.It may be recalled that, the World Bank Group, in its recent energy report showed an encouraging 120% growth in financial support for renewable energy and energy efficiency in fiscal 2005.
The report also emphasised on bank's determination towards increase in financial commitment for new renewable energy and energy efficiency by an average of 20% per year from 2005 to 2009. The commitment was made in Bonn, Germany, in June 2004, at the International Renewable Energies Conference, and later endorsed by the World Bank Board of Executive Directors.EU's move to push for biomass, biofuel use will bring many benefits to the region and global economy. Not only the EU will be addressing the global warming issue but it can also rejuvenate sagging economy.