Politics 150 companies for an ambitious EU climate target by 2040

Around 150 European companies and investors are calling for greenhouse gas emissions in the EU to be reduced by at least 90 percent by 2040. They addressed a letter to the European Commission.

Keystone-SDA

27.05.2025, 00:15

SDA

"A robust climate target and the decarbonization of our economies will improve the EU's resilience to shocks, energy security and competitiveness," they write in the open letter, addressed to the European Commission, Members of the European Parliament and EU heads of state and government.

The 90 percent reduction should be seen as a lower limit and not an upper limit for ambition, the signatories further demand. "Reducing emissions should be an absolute priority, with measures to increase the decarbonization of all sectors of the economy, accelerate the transition to clean energy and increase energy efficiency." The signatories include SAP, the Otto Group and Allianz.

Still no binding target by 2040

So far, the EU has set targets to reduce CO2 emissions by 55% by 2030 compared to 1990 levels and to become climate-neutral by 2050 - in other words, to emit no more greenhouse gases than can be absorbed. There is not yet a binding interim target for 2040. Last year, the EU Commission recommended a reduction of at least 90 percent compared to 1990. The authority's legislative proposal on this is expected by the summer break and must then be negotiated by the EU countries and the European Parliament.

Some in the European Parliament and among the EU states consider a 90 percent reduction by 2040 to be too ambitious. According to EU circles, the Commission wants to stick to the 90 percent target - but at the same time create more flexibility in order to achieve it. This includes, for example, the recognition of climate certificates from non-EU countries.