In a letter sent to the European institutions on Tuesday 27 May and circulated by the Corporate Leaders Groups network, 152 business leaders and investors called for a target of at least 90% net reduction in greenhouse gas emissions by 2040 “to step up action and investments to transition towards more sustainable business models and rapidly lower our emissions”.
They therefore support the European Commission’s Communication of February 2024 justifying a target of a 90% reduction in greenhouse gas emissions by 2040 compared with 1990 levels (see EUROPE 13344/1). A legislative proposal is to follow and will be presented before the summer, according to the Commission (see EUROPE 13648/8).
According to the signatories of the letter, “90% should be considered as the floor rather than the ceiling for ambition (and) mitigation should be considered the absolute priority”. They say that in order to remain consistent with the priority given to mitigation, “the maximum share of emissions expected to be eliminated through nature-based carbon removals and technological removals should be assessed”.
To see the letter: https://aeur.eu/f/h25 (Original version in French by Pauline Denys)