This Paper sets out the EuroACE view in the framework of the stakeholder feedback sought by the European Commission by 15thApril on its inception impact assessment (IA) of the 2030 Climate Target Plan.
EuroACE welcomes the work started by the European Commission to revise the2030 target for GHG emissions reduction. This work should lead to an alignment of the 2030 target with our longer-term objectives, i.e. reaching climate neutrality by 2050 in order to respect our commitments to the Paris Agreement. Therefore, EuroACE believes that the 2030 target should be to reduce GHG emissions by 55% at least, compared to 1990 levels.
The decade between 2021 and 2030 will be decisive in order to accelerate action and put the EU on track towards carbon neutrality by 2050. Therefore, a higher 2030 target is needed, not only to give industry and investors a clear indication where to go, and give them first-mover competitive advantage, but also to make the trajectory between 2030 and 2050 easier to achieve.