23.07.2010

With enhanced carbon emission targets the EU can influence the price of carbon and build a basis for low-carbon and sustainability growth.

Twenty-seven European industry leaders have attached their names to a letter to the Financial Times, in which they ask the three Environment Ministers of UK, Germany, France for more stringent carbon emission targets. The British Financial Times published the letter this Wednesday.

According to the industry leaders, low carbon prices have prevented investments in low-carbon technologies, and the development of international carbon trading stopped, while it is crucial that we get out of recession building a basis for low-carbon growth.

Among the 27 industry leaders are: Bertrand van Ee, DHV Group's CEO, Sam Laidlaw, CEO of Centrica, Harrie Noy, CEO of Arcadis, and Rudy Provoost, CEO Philips Lighting. The list is headed by Jean-Paul Agon, CEO of L'Oreal. In the first days after the opinion piece of the Environment Ministers sounded just disbelief and anger from the European business.

The movement from the 27 industry leaders follows a similar action taken by the environment ministers – previously reported by Envido on its article: UK, France and Germany call for 30% EU carbon emission target in 2020 – when they called on the other EU member states to support moves to strengthen the EU’s carbon emission target.

The European industry leaders sustain that we must ensure that we will not be prisoners of a carbon-rich future. With enhanced carbon emission targets, the European Union can influence the price of carbon, which gives a signal for companies to continue to invest billions in carbon-free products, services, technologies and infrastructure.

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