CEOs, business leaders and investors from over 100 organisations have signed a joint letter calling on the EU to set a greenhouse emissions reduction target of at least 90% by 2040. Signatories stress that a robust target will bring economic opportunities and competitiveness benefits while increasing energy security for citizens and businesses. We argue that the target, and climate more broadly, should be considered as a central element of the EU’s overall strategy to achieve these objectives.

21 March 2024 – This month, a new report by the European Environment Agency (EEA) highlighted that climate risks have reached critical levels and 2023 is now the hottest year since records began. On 25 March, Environment and Climate Ministers are set to discuss the EU’s 2040 climate target at the Council. As a result, over 90 businesses and investors from across the EU, representing more than a million employees and managing trillions of euros in assets, have joined forces to call for an ambitious target. At least 90% of greenhouse gas emissions must be cut by this date, to reflect the urgency of the climate crisis.

Signatories emphasise that a robust target, backed by a smart coherent package of supporting policies will decarbonise our economies. It will also ensure that we drive innovation and economic opportunities. This target will enable the creation of high quality jobs and cost savings that citizens rightly expect, while improving the health and well-being of its people.

The letter establishes principles for the economic transformation that will be necessary to achieve the target – and for a climate neutral EU in the longer term. These principles include developing a comprehensive industrial strategy, guided by a ‘competitive sustainability’ approach, accelerating the clean energy transition and efficiency, phasing out fossil fuels, nature-positive investment and harnessing the decarbonisation potential of the circular economy. 

Read the full letter here.

The European Alliance to Save Energy (EU-ASE), part of a broad coalition of European organisations, calls on the European Commission to deliver the Water Resilience Initiative as soon as possible as a first step towards an ambitious water strategy for Europe. 

March 11, Brussels – Today, a diverse coalition of European organisations has joined forces to call upon the European Commission to deliver the Water Resilience Initiative as soon as possible, marking a crucial first step towards an ambitious water strategy for Europe.

In an open letter addressed to the European Commission, the coalition emphasises the indispensable need for a water-resilient Europe in light of the escalating pressures on the continent’s freshwater resources, intensified by the impacts of climate change. The coalition stresses that water stands at the centre of the economic, societal, and environmental sustainability of Europe. As such, the Water Resilience Initiative is seen as imperative to provide European socio-economic actors with a competitive edge, while ensuring the availability of water resources of the highest quality at the right time.

Over the past five years, European institutions have diligently updated the European water acquis to confront emerging challenges head-on. A consensus has emerged among European Member States and institutions, highlighting the urgent need for a cohesive and comprehensive water strategy. Notably, resolutions from the European Council in 2021 and 2023 underscored the strategic significance of water and the imperative for decisive action. Bold commitments on water were submitted to the UN 2023 Water Conference, demonstrating Europe’s dedication to global leadership in water management.

These cannot be delivered without the Water Resilience Initiative that was announced in the State of the Union speech in September 2023. With Europe positioned to lead by example, the coalition urges the European Commission to stick to its commitment and swiftly deliver the Water Resilience Initiative, making water a top priority for the next mandate of the European Commission.

 Read the full letter here.