Companies Urge EU to Adopt Binding 40% Energy Efficiency Target

by | Oct 23, 2014

EC letterUnilever, Philips, Schneider Electric and Siemens are among the 49 companies (see image) that have signed a letter to European Council president Herman Van Rompuy, urging the council to set a binding energy efficiency target of at least 40 percent.

European Union member states will meet tomorrow and Friday to vote on a 2030 climate and energy package. The European Commission has recommended states’ adopt a binding goal to cut GHG emissions by 40 percent by 2030, Bloomberg reports. The current 2020 policy cuts emissions 20 percent by 2020 compared with 1990 levels.

The companies say a 40 percent energy efficiency target will make European businesses more competitive and cut EU energy costs by as much as €1 trillion to €2 trillion ($1.3 trillion to $2.3 trillion) between 2020 and 2030.

The letter follows a similar one signed by 57 global companies, funds and associations including Unilever, Ikea, Royal Dutch Shell, Coca-Cola Enterprises and General Electric sent to EU heads of state earlier this month, urging adoption of “robust” 2030 climate policies.

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