by jbs072710 f3 — July 30, 2010—The Climate Group recently backed a new push by climate change ministers in the U.K., France and Germany to persuade Europe to cut its emissions by 30 percent by 2020. The current European target is for the EU to cut emissions by 20 percent from 1990 levels by 2020.
The ministers argue that a higher level of ambition is required to stimulate vital business investment at the scale required to decarbonize the economy. They believe that it will be “overwhelmingly” the private sector that will deliver the investment that will build Europe’s low-carbon future.
Last month, The Climate Group, The Corporate Leaders Group on Climate Change, and WWF Climate Savers Programme published a joint declaration—Joint Business Declaration on Increasing Europe’s Climate Ambition—to EU institutions and ministers asserting that it is in Europe’s economic and strategic self-interest to advance its ambition on climate change beyond its current 20 percent greenhouse gas emissions reduction target.
Collectively, these three business leaders groups jointly represent companies providing 20 million jobs and over $11 trillion in market capitalization. Already 13 member companies have put their names to the joint declaration, including: Acciona, BNP Paribas, Barilla, Crédit Agricole, Elopak, F&C Asset Management, Johnson Controls Inc., Google, Marks and Spencer, Nike, Philips, Sony Europe and Swiss Re.
