As well as the numerous economic and social benefits of cutting greenhouse gas emissions, it will spur innovation and investment thus creating millions of new jobs in a low carbon economy. Furthermore, it will improve energy security and help the EU to maintain its leadership and competitiveness in the global low carbon economy.

Increasing Europe’s Climate Ambition Will Be Good For The EU Economy And Jobs

Business welcomes the strong public endorsement given to the 30% greenhouse gas reduction target by Denmark, France, Germany, Spain and the UK. Moving to a 30% emissions reduction target is a win-win-win for Europe. As well as the numerous economic and social benefits of cutting greenhouse gas emissions, it will spur innovation and investment thus creating millions of new jobs in a low carbon economy.

Businesses call for the EU to prepare to increase its greenhouse gas reduction target to 30% to drive low carbon investment:

• Climate action will boost economic growth and create new jobs
• The EU needs the right policies to maintain its leadership and competitiveness in the global low carbon economy
• The EU must ensure energy security through greater low carbon energy investments
• The EU needs to invest now for tomorrow’s technology and infrastructure to avoid high carbon ‘lock-in’ and the financial risk of needing to engineer a rapid shift away from such stranded assets
• The recession has made emissions cuts easier and cheaper but market incentives are required to spur action
• 'Carbon leakage’ should be evaluated and concerns addressed based on real facts and data about competitiveness

The following businesses have explicitly supported this Declaration so far: Acciona, Alstom, Asda, Atkins, Barilla, BNP Paribas, BSkyB, Capgemini, Centrica, Climate Change Capital, Crédit Agricole, DHV Group, Elopak, Eneco, F&C Asset Management, GE Energy, Johnson Controls Inc, Kingfisher, Google, Marks and Spencer, Nike, Philips Lighting, SKAI Group of Companies, Sony Europe, Standard Life, Swiss Re, Tryg, Thames Water, Unilever and Vodafone.

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