by Brianna Crandall — February 23, 2011—In a speech on February 11, EU Energy commissioner Gnther Oettinger argued against Europe increasing its ambition to cut carbon emissions by 30 percent by 2020, from the current 20 percent. Fiona Harvey in The Guardian reported Oettinger’s fears that increasing the European target could lead to a “too-fast process of de-industrialisation” and see some energy-intensive industries relocating to China. He also said that EU business should prepare for higher oil prices.
Responding to Oettinger’s comments, Mark Kenber CEO of The Climate Group said, “Now is no time for Europe’s leaders to have a crisis of confidence or present false choices. The EU businesses we work with want a 30 percent carbon reduction target to boost Europe’s share of the €3.5 trillion global market for low-carbon goods and services. Business understands there is no such thing as a high-carbon, low-cost future for them in Europe or anywhere else. Europe’s economy needs a clean industrial revolution to stay competitive, to cut emissions, and to boost growth and jobs.”
In October 2010, 30 companies supported a joint business declaration led by The Climate Group, the University of Cambridge Programme for Sustainability Leadership, and WWF Climate Savers calling for Europe to increase its climate ambition to boost jobs and growth. The companies include Acciona, Alstom, Asda, Atkins, Barilla, BNP Paribas, BSkyB, Capgemini, Centrica plc, Climate Change Capital, Crdit Agricole, DHV Group, Elopak, Eneco, F&C Asset Management, GE Energy, Johnson Controls Inc, Kingfisher, Google, Marks and Spencer, Nike, Philips Lighting, SKAI Group of Companies, Sony Europe, Standard Life, Swiss Re, Tryg, Thames Water, Unilever and Vodafone.
Alain Grisay, CEO of F&C Asset Management said at the time, “A 30 percent greenhouse gas reduction target sends an unambiguous message that will mobilize capital and spur real growth in the low carbon economy.” Evidence supporting Europe’s ‘green growth’ opportunity is mounting. The value of the global market in low carbon goods and services is already over £3 trillion and growing at four percent per year, faster than the world GDP, says The Climate Group.
Emerging economies are not ignoring the economic opportunities presented by the global market, with countries such as China, South Korea and Mexico taking the lead in new clean energy technology and infrastructure investment, asserts The Climate Group. The comments come as China prepares to announce its 12th Five Year Plan in March, which is expected to put green growth at the heart of its national economic development strategy. A report by Ernst & Young says that in the second quarter of 2010, China spent $10 billion on wind energy alone; around half the global total. Another report from E3G suggests that China will out-invest the EU over the next decade in critical clean energy infrastructure and technology.
