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Statkraft welcomes increased EU climate targets for 2030

16 Sep, 2020

In her first «State of the Union» speech, EU Commission President Ursula von der Leyen summarized the Commission’s work during the first six months.Most importantly for the energy sector, von der Leyen announced the Commission’s proposal to increase emission reduction targets for 2030 from 40 to 55 percent.

“The Impact assessment shows that meeting this target will put the European Union firmly on track for climate neutrality in 2050 and meeting our Paris Agreement obligations”. Von der Leyen acknowledged that it “might not be enough for some, might be too much for others”.

Commission President Ursula von der Leyen

The President added that by next summer, the EU Commission will review all climate policies and legislation to fit the 55 % targets. This includes legislation on renewable energy, energy efficiency and emissions trading.

She also insisted that “Carbon must have its price because nature cannot pay this price anymore” and that a carbon border adjustment mechanism is essential to the EU's wish to set up a level environmental playing field.

“I am very happy about the EU’s increased climate target of 55% reduction by 2030 and that von der Leyen specifically referred to a letter by many European companies calling for such a high target,“ says Statkraft CEO Christian Rynning-Tønnesen.

“I have co-signed this letter on behalf of Statkraft. For a long time we have been working to achieve higher 2030 climate targets and effective carbon pricing to provide predictability for the path towards climate neutrality by 2050 and business opportunities for renewable energy."

More info on EU Green Deal:
https://ec.europa.eu/info/strategy/priorities-2019-2024/european-green-deal_en