Climate Bonds outlines five ways AccelerateEU can deliver energy sovereignty

Rapid transition away from imported fossil fuels can strengthen resilience after latest energy shock 

• New Climate Bonds report lays out five recommendations to support AccelerateEU in facilitating faster transition away from fossil fuels. 
• Europe remains structurally exposed to global energy shocks — 40% of the EU’s LNG imports come from countries that have threatened (or discussed) cutting off supply to the EU. 
• 89% of EU final energy demand can be electrified with existing technologies, far more than currently targeted, without the use of imported fossil fuels. 

London | 09:00 BST | 23 April 2026: Europe can secure long-term energy sovereignty by rapidly accelerating the transition away from imported fossil fuels and toward domestically produced clean energy, according to a new report published today by Climate Bonds Initiative. 

The report, Rapid Transition to Energy Sovereignty, was released the day after the European Commission unveiled AccelerateEU, a programme aimed at strengthening Europe’s resilience to recent market disruption and future energy shocks. Climate Bonds will continue to evolve these recommendations as more details about AccelerateEU become available. 

Climate Bonds said the Commission’s announcement is a welcome sign that policymakers increasingly recognise the need for rapid action to reduce structural exposure to fossil fuel imports through electrification, stronger grids and faster clean energy deployment. 

Europe remains vulnerable to risk 

The report finds that the European Union remains heavily dependent on imported fossil fuels from high-risk trading partners, leaving the bloc vulnerable to geopolitical pressure, supply disruption and price volatility. 

It highlights that 40% of the EU’s LNG imports come from countries that have threatened or discussed cutting off supply to the European Union, demonstrating that energy dependence remains a strategic vulnerability even after the shift away from Russian pipeline gas.  

Nearly 60% of EU primary energy still comes from imported fossil fuels, while overall gas import dependency remains high. The report argues that recent crises like the conflict in the Middle East show that energy shocks are no longer hypothetical risks, but a structural feature of today’s geopolitical landscape.  

AccelerateEU can drive rapid transition 

Climate Bonds welcomed yesterday’s Accelerate EU announcement. Its focus on electrification, grid expansion, stronger coordination and resilience aligns closely with Climate Bonds’ recommendations. Immediate consumer protection must be paired with immediate action on structural reform, so Europe is better protected when the next shock comes. 

Five steps to energy sovereignty 

The report sets out a practical pathway for Europe to reduce dependency, strengthen resilience and improve competitiveness through the AccelerateEU programme: 

1. Electrify – rapidly shift transport, heating and industry from imported fuels to domestic electricity. 
2. Connect – build stronger cross-border grids and improve interconnection. 
3. Flex – scale batteries, pumped hydro and demand-side response to reduce gas balancing. 
4. Decarbonise – strengthen industrial competitiveness through clean domestic energy. 
5. Shield – maintain strong methane rules to prioritise lower-risk suppliers and accelerate the phaseout of vulnerable imports.  

Sean Kidney, CEO of the Climate Bonds Initiative, said: 

“The Accelerate EU announcement is an encouraging sign that Europe is learning the lessons of recent energy shocks. Diversifying away from one supplier can reduce one risk, but dependence on imported fossil fuels will always leave the EU exposed to global pricing shocks and supply disruption. 

The only durable route to energy sovereignty is to reduce dependency altogether through clean domestic energy, electrification, and stronger grids. 

Europe now has a clear choice: continue spending hundreds of billions on imported fossil fuels while remaining exposed to recurring crises, or accelerate the transition to a more secure, more competitive, and more sovereign energy system.” 

ENDS 

For more information, please contact 

Gabriel Carhart 
Communications Specialist, Climate Bonds Initiative 
gabriel.carhart@climatebonds.net