The document discusses the challenges facing the European Union from its dependence on fossil fuels, including threats from climate change, geopolitics, and resource competition. In response, the EU agreed to binding targets to reduce greenhouse gas emissions, increase renewable energy, and improve energy efficiency by 2020. Meeting these targets will improve energy security, create jobs, and save billions in reduced fuel imports. However, achieving over a third of electricity from renewable sources and shifting heating and transport to renewable fuels will require huge initiatives across society. The investments needed for a low-carbon economy will pay off in cheaper, more secure energy and new business opportunities.