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00:00HAS SOMETHING TO DO WITH OUR OWN MICHAEL BLOOMBERG. MAROS, THANK YOU FOR JOINING US. THE SECRETARY-GENERAL SAID WE ARE WAY IN ON LONG-TERM PLANS UNDER PARIS TO GET TO JOIN THE 50. I THINK 19 COUNTRIES HAVE COME UP WITH A PLAN THAT -- I AM SORRY, NINE COUNTRIES OUT OF 190. WHERE ARE WE? > > WE ' RE GLAD ABOUT THE PROGRESS IN EUROPE. IT WAS DESCRIBED WILL THAT IN EUROPE, WE ' RE TRYING TO DO A COLLECTIVE EFFORT. WE ' RE THE FIRST MAJOR ECONOMY WHICH ALREADY HAS THE PARIS COMMITMENT IN LAWS. WE EXPECT THAT ALL OUR MEMBER STATES WILL REACH THE TARGET BY 2020. FOR 2030, WE EXPECT TO REDUCE THE GREENHOUSE GAS EMISSIONS BY MORE THAN 40%, MORE THAN WE COMMITTED TO. AND WE WILL HAVE MORE THAN 30% OF ENERGY IN OUR SYSTEM FROM RENEWABLES. WE WORK ON A EUROPEAN-WIDE EUROPEAN-WIDE BASIS, BUT WE ALSO MOTIVATED OUR MEMBER STATES TO HAVE THEIR OWN STRATEGIES ON HOW TO GET THERE. AND THE SITUATION, IT IS NOT ENOUGH TO DO WITH THE PUBLIC SECTOR ONLY. WE HAVE TO MAKE MUCH PROGRESS, HAVING MORE ELECTRIC CARS ON THE ROADS. WE HAVE TO MAKE SURE THAT AGRICULTURE IS DONE IN A MORE SUSTAINABLE WAY. WE ARE INVESTING A LOT AND SMART BUILDING BECAUSE WE KNOW WHAT KIND OF POTENTIAL THAT CAN BRING TO THE ENERGY SAVINGS AND GREENHOUSE GAS EMISSIONS. DAVID: TAKE US THROUGH THE ECONOMICS. A CONSULTING GROUP CAN UP WITH A STUDY THAT SAID A COUNTRY LIKE GERMANY CAN PAY FOR AND DO BETTER THAN PAY FOR SOME OF THE LONG-RANGE ATTEMPTS TO CUT EMISSIONS, BUT THERE IS A SUBSTANTIAL UPFRONT INVESTMENT. IS THAT WHAT YOU SEE, AND WHO WILL MAKE THAT UPFRONT INVESTMENT? > > WE PAID QUITE A LOT FOR BEING A PIONEER, ESPECIALLY IN GERMANY. IT HAS TO DO MAJOR UPFRONT INVESTMENT. WE ' RE NUMBER ONE IN WIND POWER PRODUCTION. WE ' RE INVESTING AN ENORMOUS AMOUNT OF MONEY IN SMART GRIDS. IF YOU HAVE RENEWABLE ENERGY, IT IS GREAT BUT INTERMITTENT, SO WE HAVE TO LEARN ABOUT HOW TO CHANNEL IT IN ALL DIRECTIONS AND HOW TO STORE IT. WE HAVE EMPHASIS ON DEVELOPING NEW WAYS. FOR CARS, FOR OUR INDUSTRY, AND FOR OUR HOMES. IMPROVING INFRASTRUCTURE, TOO, SO WE HAVE SPECIAL PLAN FOR THAT IN EUROPE. FOR THE NEXT EUROPEAN BUDGET, WE ALLOCATED MORE THAN 300 BILLION EUROS OF EU MONEY FOR CLIMATE REGULATED PROJECTS. WE ' RE CLEAR THAT WE WANT TO CONTINUE TO BE NUMBER ONE DONOR AND PARTNER FOR AFRICA AND NEIGHBORING COUNTRIES. WE KNOW THAT IF YOU WANT TO MAKE SURE THAT YOU CHANGE THE REALITY ON THE GROUND, YOU HAVE TO HELP THEM GET A SICK ELECTRICITY PREWITT WE OFTEN FORGET THAT 1.4 BILLION PEOPLE DO NOT HAVE ACCESS TO ELECTRICITY. THEY CANNOT DO IT IN OUR FORM, SO WE HAVE TO HELP THEM WITH SMARTER GRIDS AND RENEWABLES. 44 BILLION EUROS INTO AFRICAN NEIGHBORHOODS IN THE NEXT FEW YEARS. ALIX: WE TALK ABOUT THE U.S. VERSUS EUROPE, BUT THERE IS ALSO THE COMPANY INITIATIVE. BOB DUDLEY IS FRONT AND CENTER ON THE OIL AND GLASS CLIMATE INITIATIVE WHERE CHEVRON AND OTHERS JUST JOINED. > > WE PUT OUR SHOULDERS TOGETHER IN STARTED WORKING TOGETHER, RECORDING IT, AND DEVELOPING TECHNOLOGIES. WE KNOW IT IS IMPORTANT. NATURAL GAS HAS A REALLY IMPORTANT ROLE IN CLIMATE CHANGE AND TRANSITIONING, COMBINING IT WITH RENEWABLES AND OTHER THINGS. SATELLITES, DRUMS, TECHNOLOGY, INFRARED, ALL COMING TOGETHER. AND NOW THREE BIG U.S. COMPANIES HAVE JOINED. ALIX: SOUNDS GREAT. METHANE -- TACKLING IT. IS THAT ENOUGH TO MOVE THE NEEDLE AS FAR AS YOU ' RE CONCERNED? > > WE NEED ALL LEVELS.WE APPRECIATED THE SUMMIT BECAUSE IT SHOWS WE NEED GLOBAL ACTION. HERE, WE NEED ALL THE EFFORTS TOGETHER, STATE LEVEL, LEVEL OF THE CITIES, AND THE MAYORS ALL OVER THE WORLD ARE OUR BEST ALLIES BECAUSE THEY ARE THE FIRST TO TACKLE AIR POLLUTION, THE MOBILITY ISSUE, HOUSING PROBLEMS. , OF COURSE WE NEED THE CORPORATE LEADERS WHO ARE SO FORWARD-LOOKING AND KNOW THEY NEED TO CONTRIBUTE TO CLIMATE CHANGE. AND HERE IN EUROPE, YOU HAVE A GROUP OF BUSINESS LEADERS, MAYORS, POLITICIANS, AND ACTIVISTS, AND IT IS QUITE UNIQUE. IT SHOWS WE ALL HAVE TO DO IT TOGETHER AND GO ON THE RIGHT DIRECTION. ALIX: BUT IS IT ENOUGH? WHEN YOU LOOK AT THE OMISSIONS COMING OUT OF CHINA, IS WHAT YOU DO IN THE EU AND THE U.S. GOING TO BE ENOUGH AS LINUS CHINA IS IN THERE AND UNABLE TO SWITCH TO ANY KIND OF ALTERNATIVE ENERGY? > > WE ARE CURRENTLY FINALIZING ALL PREPARATIONS FOR THE CONFERENCE TO ASSESS GLOBAL EFFORTS SINCE SIGNING THE PARIS AGREEMENT. I AM SURE THE CONCLUSION WILL BE WE NEED TO DO MORE. PLESSY DIFFERENT, COMPARING THE SITUATION BETWEEN NOW AND IN THE PAST, IS THE DECISION OF THE WHITE HOUSE TO LEAVE THE PARIS AGREEMENT, WE HAVE MOBILIZATIONS ON ALL LEVELS AND HAVE STARTED THE PROCESS. I AM A STRONG BELIEVER IN PRIVATE SECTOR ACTIVITIES.IN EUROPE, WE HAVE PROVEN YOU CAN CUT EMISSIONS BY 24%. YOU CAN GROW I ALMOST 60%. AT THE SAME TIME, WE CREATED MILLIONS OF JOBS IN RENEWABLES. I THINK WE CAN PROVE THERE IS A BUSINESS SENSE AND THIS DECISION AND THAT IT WILL BE THE COMBINATION OF RESPONSIBLE FOR THE PLANET AM A INITIATIVE, AND DOING THE RIGHT THING. DAVID: MAROS SEFCOVIC, EUROPEAN

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EU Takes Policy Steps to Combat Climate Change, Curb Emissions

European Commission Vice President Maros Sefcovic explains steps the European Union is taking to combat climate change. He speaks on "Bloomberg Daybreak: Americas." (Source: Bloomberg)

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