Delivering on the opportunity together – creating a new European economy and society
The European Union has enabled a breakthrough in the low-carbon transition by adopting clear targets and policy frameworks. So far, it has worked. Now, recognizing the urgency of the challenge—as conveyed by the latest scientific evidence in the IPCC’s 1.5 degree report and by extreme weather events that impacted so many regions this summer—it is time to move on to the next phase.
The world must reach net zero emissions early in the second half of this century and drastically cut emissions over the next decade to prevent the worst impacts of climate change. The EU has the knowledge, skillset and economic drivers to deliver net zero emissions by 2050 at the latest. It will be essential to scale up efforts over the next decade and review existing targets for 2030 accordingly. We believe European countries can and should lead the way towards a zero-emissions future.
We have an opportunity. An opportunity to transform our economy and society. An opportunity to confront challenges to our security and wellbeing. It's an opportunity to clean our air and water, and to reduce waste, whilst making our homes and cities better places to live. This is an opportunity for a managed transition, to create jobs in growing fields, to bolster innovative industries, to build resilient infrastructures, and to develop new business models that support a better, healthier and more sustainable way of life. The need to combat climate change is becoming more urgent with every passing day, and this gives us the opportunity to accelerate these actions and work together to build a net zero emission Europe by 2050 at the latest.
We are businesses, investors, cities and regions, seizing this opportunity. Together, we are working to quickly and substantially advance energy efficiency and increase the share of renewables in the energy system to rapidly move away from fossil fuel use. We are working to shift transport away from old, polluting models to people-centred systems. We are producing food and using land more sustainably.
These actions bring immediate benefits to people's everyday lives: reducing the negative health impacts from pollution and making buildings and workplaces more comfortable and productive. They are making our businesses the market leaders of the future and turning the economy into a more resilient part of the solution. We are proud to show the rich and diverse set of actions that already exist in response to climate change and encourage others to join us in delivering on commitments, investing in new solutions and innovating to reimagine an economy without carbon emissions.
We are all in this together. We can only succeed through cooperation, by working together to deliver on the commitments of the Paris Agreement without leaving anyone behind. We know that to do so we need to develop a new form of shared leadership between political leaders and actors both in economy and society. Together, we can seize this opportunity and confront the challenges ahead. We are committed to achieving our goal and will continue acting to bring it to reality. We invite you to join us.