Mediahuis, business leaders urge EU to set a greenhouse gas reduction target of at least 90 per cent by 2040
Mediahuis, together with more than 100 business leaders and investors, signed a joint letter calling on the EU to set a greenhouse gas reduction target of at least 90% by 2040.
In an open letter coordinated by CLG Europe, CEOs, leading companies, investors, networks and SMEs from across the EU are calling on the EU to set a greenhouse gas reduction target of at least 90% by 2040.
This evidence-based objective reflects the urgency and benefits of short-term action. Businesses and investors emphasize that a robust target will lead to economic opportunities and competitive advantages while increasing energy security for citizens and businesses. They argue that the target, and the climate in general, should be considered a central element of the EU's overall strategy to achieve these goals.
According to the signatories, the EU should:
- Integrate the target into a comprehensive industrial strategy, guided by a 'competitive sustainability approach', allowing the EU to lead the global race to develop sustainable industrial ecosystems and industries. Place the target at the heart of the EU's overall strategy to strengthen energy security by accelerating the transition to clean energy and energy efficiency and phasing out fossil fuels.
- Building on the Green Deal and the effective implementation of the Fit for 55 package.
- Use the opportunities of the circular economy and eco-design to tackle emissions from the production of materials.
- Send a clear signal to companies and national governments about the importance of investing in nature-based solutions and the transition to a nature-positive economy.
- Set a robust target that enables the EU to take a leading role in eliminating fossil fuels, tripling the use of renewable energy sources and doubling energy efficiency worldwide.
Companies and investors are ready to play a key role in translating climate goals into concrete action, working hand in hand with policymakers.
