An increasing number of big businesses are calling for the European Union to be more ambitious in its targets for reducing greenhouse gas emissions, saying it will create jobs and unlock much needed investment in the low carbon sector.
More than 70 European and
global companies have now signed a
declaration calling for the EU to cut
greenhouse gas emissions by 30 per cent by 2020 on 1990 levels. The
EU target currently stands at 20 per cent.
The 72 signatories, which include companies such as Coca-Cola, M&S and Unilever, want EU policy makers, who will be voting on the 20 per cent target next week, to commit to the higher cuts.
According to the joint business declaration, released today, a 30 per cent cut in emissions would not only boost economic growth and create new jobs, but would help the EU maintain its competitiveness in the global low carbon economy and ensure energy security through low carbon energy
investments.
"The green economy will only succeed if governments, law makers and regulators play their part and create a climate where
innovation and investment can thrive," said Richard Gillies, director of Plan A, Sustainable Business and CSR at Marks & Spencer.
Business heavyweights
The same sentiment was expressed by other business heavyweights, today, including Eurostar, IKEA, Siemens, John Lewis, Philips and Nike.
"Now is not the time for the EU to step on the brakes and give up its leadership position. Instead the EU should speed up the transition to a low carbon society, as we firmly believe there is a wide range of benefits for consumers, the environment and the economy," said Garrett A.G. Forde, ceo, Philips Lighting.
The number of companies that now back the 30 per cent target has double compared to just a few months ago, according to WWF, which is helping to organise the joint business declaration.
According to a WWF release, increasing the target could create six million jobs by 2020 and reduce imports of oil and gas by €45.5 billion in 2020, thereby improving energy security.
"Politicians across Europe must listen to this clear message from forward thinking businesses, who know that a stronger policy framework will be in their interest because of the investments and opportunities it can unlock," said Keith Allott, head of Climate Change at WWF-UK.
UK Government backing
UK Energy and Climate Change Secretary Chris Huhne welcomed today’s declaration, saying: "More and more businesses now realise that Europe’s future prosperity lies in low carbon economy."
But he warned that "the current lack of resolve" from the EU could dampen growth aspirations of some of Europe’s biggest firms.
The UK, which has set its own tough emissions targets supports the 30 per cent EU target, along with France, Portugal, Greece, Spain, Sweden and Germany.
The EU Environment Council will meet on June 21 and the European Parliament’s vote on moving beyond the existing 20 per cent target will take place on June 23.
The business declaration was organised jointly by The Climate Group, The Cambridge Programme for Sustainability Leadership and WWF.
Like this story? Please subscribe to our free weekly e-newsletter at the top of the page for more content like this.
Related content:
