Over 170 business and investor CEOs urge the EU to raise EU 2030 GHG emissions targets to at least 55 per cent
Sept 2020 - Dec 2020: In a critical year for climate action, five years on from the landmark Paris Agreement and with the clock ticking for countries to ratchet up ambition before the end of the 2020, CEOs from over 170 businesses, investors and business and investor networks, including Deutsche Bank, Google, IKEA and Unilever, are calling on EU policymakers to support an EU 2030 greenhouse gas (GHG) emissions reduction target of at least 55 per cent, necessary to raise the pace and focus of transition efforts for the EU to become a climate-neutral continent by 2050.
Read the letter in full
Read the Annex
Read the press release
In an open letter coordinated by CLG Europe, CEOs from leading European businesses, investors and business and investor networks are urging EU heads of state and the European Commission to support an emissions reduction target of at least 55 per cent by 2030, and calling for an ambitious implementation of the EU recovery package focused on achieving a green and digital transition. By raising the EU 2030 target and delivering a more climate-resilient and regenerative recovery in response to the impacts of the Covid-19 pandemic, the EU can demonstrate international climate leadership in the run up to COP26 in November 2021. The letter indicates the diversity of European business support for increased climate ambition, with companies from sectors including, manufacturing, heavy industry, finance, consumer goods, textiles, power generation and technology supporting the 55 per cent target.
The letter states:
“What we urgently need to see next is an ambitious implementation of the recovery package focused on achieving a green and digital transition, with the European Green Deal at its core and an elevated short-term emissions reduction target in its sights.”
“The right decisions now can help create and protect healthy, thriving and fair communities and secure a roadmap for a prosperous economy. Delivering Europe’s long-term ambition to become the first climate neutral continent by 2050 requires an extensive set of urgent measures to scale up action. From a business and investor perspective, clarity on the net zero transition pathway and timetables for each sector, as well as policy that enables substantial investments in carbon neutral solutions is essential.
“We are writing to call on you, as European leaders, to avoid the worst effects of climate change and secure a sustainable, competitive economic recovery by:
- endorsing the ambition set out in the European Green Deal
- submitting resilient recovery plans which enable the green investments needed to deliver climate neutrality
- agreeing a clearly defined target to reduce domestic greenhouse gas emissions by at least 55% by 2030 and associated objectives
“We understand the risks posed by climate change and biodiversity loss to our businesses and are already working to unlock change in key economic sectors. Investors, banks and insurers are working to transition portfolios to net zero emissions. More than 900 companies are taking science-based climate action and more than 400 have approved science-based targets. We are investing heavily in clean energy, energy efficiency and electrification, lowering emissions across value chains and the lifecycle of our products, and developing better practices in the bioeconomy.”
As a strong signal of business and investor leadership for a healthy, resilient, zero carbon recovery, the letter is being profiled by the UN Climate Champions Race To Zero campaign at the Opening Day of Climate Week NYC. The letter is being presented to Executive Vice President of the European Commission Frans Timmermans.
The signatories, members of the Corporate Leaders Groups, the We Mean Business coalition, as well as IIGCC and Business Ambition for 1.5C, and many business networks from across Europe, acknowledge the urgency of the climate crisis, calling on the EU to lead the way towards decarbonisation of the global economy by 2050 at the latest.
CLG Director Eliot Whittington said:
“European businesses and investors know that the only viable economic future that can deliver prosperity and wellbeing is one that stabilises the climate. They are standing up and standing together to call on the EU to ensure its near-term emissions targets get the continent on track to reduce the worst impacts of climate change and deliver net zero by 2050. We must learn from the pandemic that putting in place resilient and socially just economic systems is vital and that building back better must be at the core of the EU's recovery package."
We Mean Business coalition: A global nonprofit coalition working with the world’s most influential businesses to take action on climate change. The coalition brings together seven international nonprofit organizations: BSR, CDP, Ceres, CLG Europe, The B Team, the Climate Group, WBCSD.
Business Ambition for 1.5C: An urgent call to action, led by a global coalition of UN agencies, business and industry leaders, calling on companies to commit to ambitious emissions reduction targets in line with a 1.5°C future through the Science Based Targets initiative (SBTi).
Institutional Investors Group on Climate Change (IIGCC): The European membership body for investor collaboration on climate change and the voice of investors taking action for a prosperous, low-carbon future.
Business Council for Sustainable Development (BCSD) Portugal: A non-profit company-based association that aggregates and represents more than 90 leading businesses in Portugal, which are actively committed to the transition to a sustainable world.
Centre of Energy Efficiency Solutions (CER) (Slovenia): CER’s mission is to accelerate innovative climate-neutral circular economy and green technologies that meet the environmental energy challenges.
European Alliance for Green Recovery: Alliance of ministers, chief executive officers and researchers urging the European Union to build its recovery package after the coronavirus crisis around the Green Deal strategy of sustainable growth – an initiative led by MEP Pascal Canfin.
European Alliance to Save Energy (EU-ASE): EU-ASE’s vision is of a future where energy efficiency is central to the entire EU energy system and is a fundamental driver for citizens’ empowerment, decarbonisation, job creation, sustainable growth, competitiveness, productivity, innovation and energy security.
European Heat Pump Association (EHPA): Representing the majority of the European heat pump industry EPHA’s key goal is to promote awareness and proper deployment of heat pump technology in the European market for residential, commercial and industrial applications.
European Industrial Insulation Foundation (EIIF): A neutral and non-profit institution, promoting insulation as a top-of-mind method of enhancing sustainability and profitability.
EURIMA: The European Insulation Manufacturers Association and represents the interests of all major mineral wool producers throughout Europe.
Aldersgate Group (UK): An alliance of leaders from business, politics and civil society that drives action for a sustainable economy.
The Haga Initiative (Sweden): A network of companies that works to reduce carbon emissions from the business sector and highlight the climate issue by showing that ambitious climate strategies create business advantages and improve profitability.
Skift Business Climate Leaders (Norway): To accelerate the transition to a low-carbon economy and support the Norwegian government in delivering on its national climate commitments by 2030.
Solar Impulse Foundation: To address environmental challenges while enabling economic growth, Bertrand Piccard has launched, through the Solar Impulse Foundation, the challenge to select 1000 solutions, that can protect the environment in a profitable way and present them to decision-makers to fast-track their implementation.
The Spanish Green Growth Group (Spain): A group of companies collaborating to create a roadmap (Barcelona Declaration) towards a low-carbon economy, with the aim of leading initiatives in the medium or long term and demonstrating the commitment to incorporate climate policies into business strategies.
WindEurope: WindEurope is the voice of the wind industry, actively promoting wind power in Europe and worldwide. We have over 400 members, active in over 35 countries.
Signatory businesses and investors:
- Renato Mazzoncini, CEO and General Manager, A2A SPA
- Marta Cañada, CTO, Abora Solar S.L.
- Jean-Marc Ollagnier, CEO – Europe, Accenture
- José Manuel Entrecanales Domecq, Chairman and CEO, ACCIONA
- Giuseppe Gola, CEO, ACEA Group
- Philippe Zimmerman, CEO, ADEO
- Christoph Schwaiger, CEO Global Sourcing and CR International, ALDI SOUTH Group
- Oliver Bäte, CEO, Allianz SE
- Henri Poupart-Lafarge, Chairman and CEO, ALSTOM
- Yves Perrier, CEO, Amundi
- Pierre Giai-Levra, CEO, Anaxis Asset Management
- Peter Simpson, CEO, Anglian Water (& Co-chair of the Corporate Leaders Group UK)
- Alan Brookes, Group Executive - Europe, Middle East, UK, Arcadis
- Patrick Mathieu, President & CEO, Armacell
- Hüseyin Gökalp Çağlar, CEO, Artnivo E&C
- Agostino Re Rebaudengo, Chairman and CEO, Asja Ambiente Italia
- Philippe Donnet, CEO, Assicurazioni Generali
- Pascal Soriot, CEO, AstraZeneca PLC
- Ben Murray, CEO, Avieco
- Patrick Dixneuf, CEO, Aviva Europe, Aviva
- David Jacobs, Vice President & Managing Director EMEIA, Baltimore Aircoil International NV
- Alberto Castelli, CEO, BancoPosta Fondi Sgr
- Frédéric Janbon, CEO, BNP Paribas Asset Management
- Georges Kern, CEO, Breitling SA
- Laura Chappell, CEO, Brunel Pension Partnership Ltd
- Neal Wolin, CEO, Brunswick Group
- Aiman Ezzat, CEO of Capgemini Group, Capgemini
- Roland Felder, CEO, Carl Rinke GmbH & Co. KG
- Cees 't Hart, CEO, Carlsberg Group
- Massimo di Tria, CIO, Cattolica Assicurazioni
- Sergio Menendez, President CEMEX EMEAA, CEMEX
- Gareth Mostyn, CEO, Church Commissioners for England
- Damian Gammell, CEO, Coca-Cola European Partners
- Andreas Siegemund, CEO, Consolar Solare Energiesysteme GmbH
- Isaac Navarro Cabeza, CEO, Contazara, S.A
- Giacomo Mareschi Danieli, CEO, Danieli & C. Officine Meccaniche SpA
- Emmanuel Faber, Chairman & CEO, Danone
- Christian Sewing, CEO, Deutsche Bank AG
- Dr. Frank Appel, CEO, Deutsche Post DHL Group
- Timotheus Höttges, CEO, Deutsche Telekom AG
- Michael Zahn, CEO, Deutsche Wohnen SE
- Bart Van Muylder, CEO, Diepensteyn NV
- Simon Levine, Managing Partner and Global Co-CEO, DLA Piper International
- Will Gardiner, CEO, Drax Group
- Roger van Bolxtel, CEO, Dutch Railways
- Dr. Asoka Woehrmann, CEO, DWS Group GmbH
- Emmanuelle Spriet, CEO, E-voyages Ltd
- Johannes Teyssen, CEO, E.ON SE
- Gordon Power, Co-Founder and CIO, Earth Capital
- Jean-Bernard Levy, Chairman and CEO, EDF
- Miguel Stilwell de Andrade, Interim CEO, EDP - Energias de Portugal
- Diego Percopo, CEO, EF Solare Italia
- Ângelo Ramalho, CEO, Efacec Power Solutions
- Jonas Samuelson, President & CEO, AB Electrolux
- Kees-Jan Rameau, Chief Strategic Growth Officer, Eneco
- Francesco Starace, CEO & General Manager, Enel
- Claire Waysand, CEO, ENGIE
- James Brueton, CEO, EnviroBuild
- John Keppler, Chairman and CEO, Enviva
- Luca Bettonte, CEO, ERG SpA
- Christoph Klein, Managing Partner, ESG Portfolio Management GmbH
- Luis García Codrón, Director, Europa Mundo Vacaciones, S.L.U
- Donald Hopper, Co-Founder & CEO, EVA Global
- Kristof Vereenooghe, CEO, EVBox Group
- Severin Schwan, CEO, F. Hoffmann-La Roche Ltd
- Toni Volpe, CEO, Falck Renewables SpA
- Valentín Alfaya, Chief Sustainability Officer, Ferrovial
- Gianfranco Battisti, CEO and General Manager, Ferrovie Dello Stato Italiane
- Gilbert Ghostine, CEO, Firmenich
- Ylva Wessén, CEO, Folksam Group
- Jamie Reigle, CEO, Formula E Holdings
- Markus Rauramo, President and CEO, Fortum Corporation
- Sander Geelen, CEO, Geelen Counterflow
- Edvardas Liachovičius, CEO, Girteka Logistics
- Gilles Andrier, CEO, Givaudan
- Joost Bergsma, CEO and Managing Partner, Glennmont Partners
- Matt Brittin, President, EMEA Business & Operations, Google
- Mads Nipper, CEO, Grundfos
- Helena Helmersson, CEO, H&M Group
- Antonio Neri, President and CEO, Hewlett Packard Enterprise
- Christopher J. Nassetta, President & CEO, Hilton
- Peter Honsik, Managing Director, Honsik GesmbH
- Henric Andersson, President and CEO, Husqvarna Group
- Ignacio S. Galán, Chairman and CEO, Iberdrola
- Ilkay Özkisaoglu, Owner, IMBEO
- Ian Simm, Founder and CEO, Impax Asset Management plc
- Pablo Isla, Executive Chairman, INDITEX
- Jesper Brodin, CEO, Ingka Group | IKEA
- Jon Abrahamsson Ring, CEO, Inter IKEA Group
- Ivan Kurtović, CEO, InterCapital Asset Management
- Nigel Stansfield, President Interface, Europe, Africa, Asia, Australia, Interface
- James Thornton, CEO, Intrepid Travel
- Remco Boerefijn, CEO, IPCOM
- Massimiliano Bianco, CEO, Iren S.p.A
- Luis Goncalves, CEO, Iskraemeco
- Cristian Bortolotti, COO, ISOLFIN
- Yves Desmet, CEO, Isoltechnics
- Guy Grainger, EMEA CEO, JLL
- Ceila McKeon, Chief Executive, Joseph Rowntree Charitable Trust
- Mantas Bartuška, CEO, JSC Lithuanian Railways
- Carlo Spinelli, CEO and Owner, K-FLEX Group
- Roland Gärber and Steen E.Hansen, Co-CEOs, KAEFER Isoliertechnik GmbH & Co. KG
- Burkhard Schmolck, CEO, Kaimann GmbH
- Marie-Angee Debon, CEO, Keolis
- Pekka Asikainen, CEO, Kespet Oy
- Christoph Ritzkat, Chairman of the Board, Kieback & Peter GmbH & Co. KG
- Jean-Claude Carlin, Member of the Knauf Group Management Committee Insulation Europe / Middle East / Asia, Knauf Insulation
- Detlef Trefzger, CEO, Kuehne+Nagel International AG
- Jean-Paul Agon, Chairman and CEO, L'Oréal Group
- Tex Gunning, CEO, LeasePlan
- Benoit Coquart, CEO, LEGRAND
- Chip Bergh, President and CEO, Levi Strauss & Co.
- Lars Appelqvist, CEO, Löfbergs
- Roy Bedlow, Chief Executive, Low Carbon
- Marko Lukić, Owner and CEO, Lumar IG d.o.o
- Markus Biland, Member of the Executive Board, MABI AG
- Thierry Deau, President and CEO, Meridiam
- Florent Menegaux, CEO, Michelin
- George Muzinich, Chairman & CEO, Muzinich & Co. Limited
- Peter Vanacker, President and CEO, Neste Oyj
- Marco Settembri, CEO, Nestlé Europe, Middle East and North Africa, Nestlé S.A.
- Simone Balbi, COO, New Componit Srl
- Lars Fruergaard Jørgensen, President & CEO, Novo Nordisk
- Stéphane Richard, Chairman and CEO, ORANGE
- Henrik Poulsen, CEO, Ørsted
- Alexander Birken, CEO, Otto Group
- Brian Chambers, Chairman and CEO, Owens Corning
- Torben Möger Pedersen, CEO, PensionDanmark
- Silviu Popovici, CEO, PepsiCo Europe, PepsiCo
- Andre Calantzopoulos, CEO, Philip Morris International
- Jon Johnsen, CEO, PKA
- Robert, Agnič, CEO, Plastika Skaza d.o.o.
- Thomas Ingenlath, CEO, Polestar AB
- Antonio Colombi, CIO, Poste Vita S.p.A.
- Costas Travasaros, Chairman of the Board, Prime Laser Technology
- John Voppen, CEO, ProRail
- Isaías Táboas Suárez, President, Renfe
- Arturo Revenga, CEO, REVENGA Smart Solutions
- Alberto Forbiti, Chairman, Riva & Mariani Group S.p.A.
- Jens Birgersson, CEO & President, ROCKWOOL International A/S
- Dimitri de Vreeze, co-CEO, Royal DSM
- Anja-Isabel Dotzenrath, CEO, RWE Renewables GmbH (RWE Group)
- Pierre-André de Chalendar, Chairman and CEO, Saint-Gobain
- Gavin Patterson, President & CRO, Salesforce
- Christian Klein, CEO, SAP SE
- Jean-Pascal Tricoire, CEO, Schneider Electric
- Valentino Vascellari, CEO, SICET S.R.L
- Cristiano Dionisi, Managing Director, SICOI
- Andreas Nauen, CEO, Siemens Gamesa Renewable Energy
- Eric Rondolat, CEO, Signify
- Jeremy Darroch, Group Chief Executive, Sky
- Maarten van Dijk, Managing Director, SkyNRG
- Kerry Adler, President and CEO, SkyPower Global
- Denis Machuel, CEO, Sodexo
- Stephan Jantscher, CEO, SOLID Solar Energy Systems GmbH
- Pierre-Etienne Bindschedler, CEO, Soprema Group
- Gianfilippo Mancini, CEO, Sorgenia
- Renat Heuberger, CEO, South Pole
- Martin Lindqvist, President & CEO, SSAB
- Alistair Phillips-Davies, CEO, SSE
- Christian Rynning-Tønnesen, CEO, Statkraft AS
- Annica Bresky, President and CEO, Stora Enso
- Odd Arild Grefstad, Group CEO, Storebrand
- Bertrand Camus, CEO, SUEZ
- Enrique Tombas, Founding Partner, Suma Capital
- John Fitzgerald, CEO, SuperNode
- Daniela Carosio, Senior Partner, Sustainable Value Investors- Studio Carosio Daniela
- Heinz-Jürgen Bertram, CEO, Symrise AG
- Miguel Varela, CEO, Teimas Desenvolvemento
- José María Álvarez-Pallete López, Chairman & CEO, Telefónica S.A.
- Jaume Miquel, Chairman & CEO, Tendam
- Ugo Bortolami , Owner, Termit srl
- Emmanuel Maragoudakis, CEO, TERNA ENERGY SA
- Adolfo Orive, CEO & President, Tetra Pak
- Mette Lykke, CEO, Too Good To Go
- Patrick Pouyanné, Chairman of the Board & CEO, TOTAL S.E.
- Jose La Loggia, President Commercial HVAC EMEA, Trane Technologies
- Bevis Watts, CEO, Triodos Bank UK
- Alan Jope, CEO, Unilever
- Anna Borg, CEO, Vattenfall
- David Briggs, CEO, VELUX Group
- Antoine Frérot, CEO, VEOLIA
- Wolfgang Anzengruber, CEO, VERBUND AG
- Morten Dyrholm, Group Senior Vice-President, Global Marketing, Communication and Public Affairs, Vestas Wind Systems A/S
- Steve Rendle, Chairman, President and CEO, VF Corporation
- Nick Read, CEO, Vodafone Group
- Martin Lundstedt, President and CEO, Volvo Group
- Olivier Pons Y Moll, CEO, WELYA
- Sandeep Mathrani, CEO, WeWork
- George Latham, Managing Partner, WHEB Asset Management LLP
- Lisa Jackson, Vice President of Environment, Policy and Social Initiatives, Apple
- Peter Fisher, Director, Bennetts Associates
- Adam C.T. Matthews, Director, Ethics & Engagement – Investment Team, Church of England Pensions Board
- Rachel Peterson, Vice President of Infrastructure, Facebook
- Fleming Voetmann, Vice President Communications, Marketing & Sustainability, FLSmidth A/S
- Casper Klynge, Vice President European Government Affairs, Microsoft
- Pierre Morales, Development director, OUVAROFF
- Tom Holemans, Sales Director Industry EMEA, Pittsburg Corning Europe
- Torsten Lütten, Business Development Germany, Savosolar GmbH
- Thomas Pitsch, Board Member, Schwartmanns Maschinenbau GmbH
Signatory supporter organisations:
- Nick Molho, Executive Director, Aldersgate Group
- João Meneses, Secretary General, BCSD Portugal
- Aron Cramer, President and CEO, BSR
- Steven Tebbe, Managing Director, CDP Europe
- Ana Struna Bregar, CEO, CER - Sustainable Business Network Slovenia
- Eliot Whittington, Director, CLG Europe
- Agostino Re Rebaudengo, President, Elettricità Futura
- Jan te Bos, Director General, Eurima
- Monica Frassoni, President, European Alliance to Save Energy (EU-ASE)
- Thomas Nowak, Secretary General, European Heat Pump Association (EHPA)
- Andreas Gürtler, Foundation Director, European Industrial Insulation Foundation
- Nina Ekelund, Executive Director, Haga Initiative
- Paul Polman, Co-founder and Chair, IMAGINE
- Stephanie Pfeifer, CEO, Institutional Investors Group on Climate Change (IIGCC)
- Sergio Andreis, Director, Kyoto Club
- Bjørn Kjærand Haugland, CEO, Skift Business Climate Leaders
- Bertrand Piccard, Chairman, Solar Impulse Foundation
- Halla Tómasdóttir, CEO and Chief Change Catalyst, The B Team
- Helen Clarkson, CEO, The Climate Group
- Virve Groning, Managing Director, U-landshjälp från Folk till Folk i Finland sr
- María Mendiluce, CEO, We Mean Business coalition
- Giles Dickson, CEO, Wind Europe
For the full press release, including quotes, please click here.
Find out more about CLG Europe's engagement with policymakers or visit the green recovery knowledge hub.