Today, the European Commission revealed its new plan to reduce greenhouse gas emissions by 2030 by at least 55% compared to 1990, substantially increasing its initial 40% target. The Commission also plans to reflect this new ambition in its proposal for the European climate law.
Last year BusinessEurope presented its energy and climate strategy, laying out five crucial framework conditions and related actions on how to reach climate neutrality. More than the target itself, the "how" questions must be at the centre of the debate. How do we mobilise the necessary investments for the development and deployment of green technologies? How can we ensure enough cheap green energy for our heavy industries and transport? How do we ensure a global level playing field?
BusinessEurope Director General Markus J. Beyrer said: "Our common European ambition to become climate neutral inevitably drives the acceleration of emissions reduction. But to be successful, it must be underpinned by a strong EU industry strategy, that considers the unprecedented economic impact of Covid-19 and does not lose sight of the international situation.
We will therefore carefully check the impact assessment to understand whether the European Commission puts forward a credible business plan to reach this ambition cost-effectively and to take account of the economic logic.
The 2030 target debate is not the most pressing issue for industry. As the International Energy Agency's recent report found, most low-carbon technologies needed for a climate-neutral future are still in their prototype stage. The next big investment round to commercialise these will only begin around 2030.
The 'how' questions are the most important for us right now. The European Commission needs to answer how we'll mobilise green investments, ensure enough cheap green energy for our industries and ensure a global level playing field. How can we bring society at large on board?"