Impending Climate Records and Their Consequences

EU Companies Call for Ambitious Climate Targets

Approximately 150 companies and investors have united in an open letter to the European Union, advocating for a significant reduction in greenhouse gas emissions of at least 90 percent by 2040. The signatories emphasize that such an ambitious climate target would bolster the EU's resilience and enhance energy security. While the EU is on track to meet its 2030 goals, achieving a 90 percent reduction remains contentious among member states and the European Parliament. Progress is evident, with emissions projected to decline by 54% compared to 1990 levels. However, the EU must navigate challenges in aligning climate ambitions with industrial support and geopolitical considerations. The Commission acknowledges the necessity for more effective national policies and financial backing to fully realize these goals. As the EU prepares for legislative proposals, the commitment of businesses highlights a growing consensus on the urgency of climate action.