Are the EU Climate targets for 2030 realistic?

European business organisations question the credibility and feasibility of new EU climate targets for 2030. BusinessEurope questions “the value and credibility” of the economic analysis underpinning the EU’s proposed climate target plan for 2030.

The association stresses that the Commission has used pre-COVID-19 data in the impact assessment accompanying its 2030 climate target plan and, therefore, the impact assessment does not take into account the economic impact of the pandemic. BusinessEurope is not alone in the criticism.

Christoph Leitl, President of EUROCHAMBRES said in his reaction to the European Parliament vote on the proposed EU Climate Law that, “Ambition is laudable, but to deliver on our shared aims, the EU needs an approach that is based on realistic targets and a clear plan rather than just wishful thinking”. Increasing the cost burden with a higher emission reduction target will certainly not add to the investment capacity of companies in R&D, upscaling and export of clean technologies.

One last question remains „How to achieve a reduction in emissions of 55 or 60% compared to 1990 in just ten years, when we have achieved a reduction of 25% in 30 years?”