BRUSSELS (dpa-AFX) - Around 150 European companies and investors are calling for greenhouse gas emissions in the EU to be reduced by at least 90 percent by 2040. "A robust climate target and the decarbonization of our economies will strengthen the EU's resilience toshocks, improve energy security and competitiveness," they write in an open letter addressed to the European Commission, members of the European Parliament and EU heads of state and government.
The signatories go on to demand that the 90 percent reduction should be seen as a minimum target and not as an upper limit for ambition. "Emissions reduction should be given absolute priority, with measures to increase decarbonization in all economic sectors, accelerate the transition to clean energy, and increase energy efficiency." Signatories include SAP, the Otto Group, and Allianz.
No binding target for 2040 yet
So far, the EU has set targets to reduce CO2 emissions by 55 percent by 2030 compared to 1990 levels and to become climate neutral by 2050 – in other words, to emit no more greenhouse gases than can be bound again. There is no binding interim target for 2040 yet. Last year, the EU Commission recommended setting a reduction target of at least 90 percent compared to 1990 levels. The authority's legislative proposal on this is expected by the summer recess and will then have to be negotiated by the EU countries and the European Parliament.
Some members of the European Parliament and EU member states consider a 90 percent reduction by 2040 to be too ambitious. According to EU circles, the Commission wants to stick to the 90 percent target, but at the same time create more flexibility to achieve it. This includes, for example, the recognition of climate certificates from non-EU countries. /rdz/DP/zb
