Climate Leadership Coalition board welcomes the outcome of the European Parliament’s vote on the EU Climate Law. The proposals would improve the needed legal certainty and predictability and enable businesses to ramp up for the transformation.

On Wednesday 7 October 2020, the European Parliament voted on its position and the improvements for the EU Climate Law. The key outcomes of the vote are:

  • all member states must become climate neutral by 2050
  • after 2050 EU shall achieve “negative emissions”
  • the EU should set a trajectory and a greenhouse gas budget at the EU level on how to reach carbon neutrality by 2050
  • the interim target for emission reductions 2030 should be increased to 60% and the interim target for 2040 need to be defined
  • the EU and member states must phase out all direct and indirect fossil fuel subsidies
  • the EU should set up an EU Climate Change Council (ECCC) as an independent scientific body to assess climate policies and to monitor progress

“CLC Board views that these proposals would clarify EU climate policies. We are extremely pleased that the European Parliament supports the definition of carbon budget. This would create a good framework for widening the EU Emissions Trading System (ETS) and improve the predictability of climate policies and carbon price. We call on the EU Commission and the European Council to support this,” says Karl-Henrik Sundström, Chairman of board of the Climate Leadership Coalition.

Read more about CLC’s policy proposals here, and here. In addition to CLC, close to 100 parties, mainly Nordic businesses, support the carbon budget and setting the interim targets in parallel. Read more here.

More information: Jouni Keronen, CEO, Climate Leadership Coalition, jouni.keronen@clc.fi, tel. +358 50 453 4881.

Climate Leadership Coalition (CLC) is the largest non-profit climate business network in Europe. CLC has 73 organizational members that employ 400 000 people globally. CLC has accepted also 30 personal members. CLC is committed to the pursuit of carbon-neutrality through the sustainable use of natural resources. The purpose of CLC is to promote the sustainability of businesses, city planning strategies and activities of research organizations towards more sustainable and resource efficient models. CLC enhances its members’ ability to respond to the threats posed by climate change by sharing information, ideas and best practice solutions. We make proposals to governments and other stakeholders to harness the market economy in a more sustainable direction and to attract sufficient investments for such a transition. CLC believes that green transition can be economically beneficial, and therefore financeable, and that early adapters can benefit and become more profitable.