Europe urged to agree bold climate and energy policies

Leading businesses including Acciona, Coca-Cola Enterprises, DSM, Ferrovial, Philips, Skanska, Shell, and Unilever are urging EU ministers to agree an ambitious package on climate change at this week’s European Council meeting.

Philippe Joubert, chair of The Prince of Wales’s Corporate Leaders Group said: “We have systematically called for an ambitious 2030 Climate & Energy package that takes energy security into consideration and delivers EU emission-reduction targets. This is in businesses’ interests, and in the interests of all European citizens. Failure to agree a deal this week will delay much-needed low carbon investments in Europe and will impact innovation and low carbon competitiveness.”

The group supports a target of at least a 40% reduction in greenhouse gas emissions in Europe, and 50% if other countries take comparable action. It also supports targets of at least 30% for renewables deployment and at least 30% for energy savings. This is the most progressive stance taken by a group representing such a wide variety of sectors - from retail to energy companies.

The Prince of Wales’s Corporate Leaders Group argues that EU long-term energy security and climate policy must go hand in hand in order to give businesses the confidence they need to invest in low carbon technologies and other climate-friendly reforms. Reform of the EU Emissions Trading Scheme and a strong carbon price to drive low carbon investments must be a priority alongside targets for low carbon and energy efficient technologies.

Noel Morrin, CSO, Skanska commented: “There is a business case for action that applies across the whole of Europe. We’re looking to our political leaders to agree a bold package that ensures European energy independence, drives down emissions and incentivises much greater energy efficiency. This is what’s needed to deliver low carbon economic development, greater competitiveness, jobs, and growth.”