Businesses Call on EU to Raise 2030 Emissions Targets to 55 Percent

December 8, 2020

Business leaders and investors across Europe are determined to address the health and economic impacts of the COVID-19 pandemic in a way that focuses on achieving a green and digital transition. In an open letter to EU heads of state and the European Commission, a diverse group of these leaders across Europe boldly pledged their support for climate action to be at the center of the EU's COVID recovery package. 

Schneider Electric joined this group of more than 200 European businesses, investors and business and investor networks to call on EU leaders to endorse the ambition set out in the European Green Deal and agree on a new 2030 greenhouse gas emissions reduction target of at least 55% ahead of December EU commission and the 5th Anniversary of the Paris Agreement.

The CEO letter, which was welcomed by Commission President Ursula von der Leyen in her State of the Union 2020 speech and at the UN Climate Summit, urges European leaders to avoid the worst effects of climate change and secure a sustainable, competitive economic recovery by:

  • Endorsing the ambition set out in the European Green Deal
  • Submitting resilient recovery plans which enable the green investments needed to deliver climate neutrality
  • Agreeing a clearly defined target to reduce domestic greenhouse gas emissions by at least 55% by 2030 and associated objectives

As a long-time supporter of ambitious climate action and signatory of this recent statement, Schneider Electric CEO, Jean-Pascal Tricoire commented,

"To build collective prosperity, we need to prioritize innovation and cut carbon emissions. Digitalization will play a key role in this."

To see the official announcement and read the CEO letter in full, click here.

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