EU sets pathway to climate neutrality: welcome direction but short term ambition must be strengthened

Responding to the proposal of the European Climate Law earlier today, Nick Molho, Executive Director of the Aldersgate Group, said “As a cross-economy organisation with business members eager to invest in the EU’s climate resilient and low carbon infrastructure, we are pleased to see the EU Commission’s proposal to enshrine the objective of climate neutrality by 2050 into law as part of President Von der Leyen’s European Green Deal. This law has a crucial role to play in providing businesses with a clear trajectory and sense of direction for future policies.”

Nick Molho added “To be credible in the eyes of other world leaders ahead of COP26 and support cost-effective investment and supply chain growth, the Climate Law must be accompanied as soon as possible by a more ambitious target for 2030, which must act as a credible stepping stone towards the 2050 target. It is also essential for European businesses that stronger ambitions come hand in hand with concrete policies to accelerate low carbon investment and innovation in buildings, transport, energy and industry.”