BNR – Prominent European corporations are urging the European Union to cut its greenhouse gas emissions by 90% by 2040.
Among the European corporations are the industry giants Coca-Cola Europe, Unilever, and Velux.
Aims to Prevent Irreversible Damage
These corporations emphasise that such a target is essential to prevent the world from crossing irreversible points. Additionally, they propose that the EU’s emission reduction goal should be benchmarked against 1990 levels.
This resounding appeal, in a report by CLG Europe, aligns with a net-zero emissions goal by companies like Coca-Cola and GSK.
It also coincides with the EU’s impending deadline, set for June 2024, to formally announce its climate target.
The CLG report offers a ten-principle roadmap for the EU to achieve this challenging but crucial 2040 objective.
The suggested strategies encompass expediting the transition to electrification while phasing out fossil fuels. This will modify climate and nature-focused budgets at both EU and national levels, and include sustainability into the EU’s policies.
Moreover, it affirms the urgent need to reduce emissions from the building sector and adopt new approaches to carbon removal.
EU: Leader in Greenhouse Gas Reduction
Advocates of the 90% reduction target argue that it positions the EU as a leader in climate ambition. It further aligns the bloc more closely with the objectives outlined in the Paris Agreement.
Tim Christophersen, Vice President of Climate Action at Salesforce, emphasised the significance of this goal.
“In setting a 2040 target, the EU can provide much-needed leadership and give clear market and policy signals for climate action,” he said. “We welcome a target that reflects the speed, urgency and benefits of near-term action, for people, the climate and nature”
In response, the European Commission stressed that it’s premature to speculate on specific emission reduction levels for 2040.
Nevertheless, it reaffirmed the EU’s dedication to climate action, as enshrined in existing emissions reduction targets.
Furthermore, the spokesperson for the European Commission asserted the significance of the EU Green Deal as Europe’s growth strategy.