This report sets out policy recommendations for policymakers on the necessary increase in the EU’s 2030 climate targets. This includes clear investor support for raising the EU’s greenhouse gas emissions target to ensure “at least” a 55% reduction in emissions by 2030. The importance of concrete, near-term, sector-specific market signals from policymakers that can guide investors’ decision-making is also made clear.
The target is of critical relevance to the future competitiveness and growth of member states, including delivery of the EU’s commitment to a sustainable economic recovery to COVID-19. This is made clear in a supporting IIGCC press release, with supporting comment from leading European investors.
The report outlines why weak climate targets would fail to provide the strength of market signal needed to mobilise investors and attract the high levels of private finance required to fully fund the European Green Deal. Therefore, a high level of ambition for 2030 is needed to support a more orderly and cost-effective transition in achieving net zero emissions, between now and 2050.
