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2040 target: enabling conditions for unlocking investment in industrial transition cannot wait any longer, warns EUROFER

EUROFER

Brussels, 06 February 2024 – The 90% target recommended today by the European Commission demands an unprecedented transformation of EU society and industry in just 16 years. The steel industry is already playing its role but there is not yet a clear business case for the transition, and investments remain worryingly low.

Gas infrastructure operators support 2040 Emissions Reduction Target & Industrial Carbon Management Communication

Gas Infrastructure Europe - GIE Aisbl

Today, the European Commission published two initiatives set to bring Europe closer to its decarbonisation and security of supply objectives. They unveil levers to increase the efficiency and speed of the energy transition. Gas infrastructure operators are determined to support the EU in delivering its climate targets, increasing industrial competitiveness, and improving energy resilience. But we also need assistance in our transition to reach a 90% net greenhouse gas emissions reduction by 2040 compared to 1990 levels.

EUROPEAN ALUMINIUM CALLS FOR A REAL “INDUSTRY DECARBONISATION DEAL” TO COMPLEMENT THE EU’S PROPOSED 2040 CLIMATE TARGET

European Aluminium

Today, the European Commission unveiled its Communication ‘

Advancing Towards the 2040 Climate Target with Bioenergy

Bioenergy Europe

Bioenergy Europe warmly welcomes the European Commission’s Communication on the 2040 climate targets. A 90% reduction of greenhouse gas emissions is the right response to the threat of climate change and the bioenergy sector is ready to step up.

Hydrogen is key building block in Europe’s 2040 climate targets

HYDROGEN EUROPE
Today (6 February), the European Commission published its Communication setting EU targets for the reduction of greenhouse gases emissions by 2040. The new targets will bridge the gap between the 2030 climate targets and the 2050 Net Zero target by defining key measures to reach a net reduction of 90% of emissions – compared to 1990 levels - by 2040.  
 

Irresponsible management at GFG Alliance/Liberty Steel is putting strategic European steelmaking at risk

industriAll Europe

PRESS INFORMATION

Power Plant Strategy: is it a risk for Germany’s reputation as a climate leader?

CLERENS

The Power Plant Strategy presented yesterday was expected to provide more clarity on the role of renewables and energy storage in the country’s roadmap. However, instead of focusing on supporting the further build-out of renewable energies with energy storage, the plan puts forward investments in more gas-fired power plants, with the promise of converting them to run on hydrogen by 2040. Currently, €44 billion subsidies are expected to finance the gas power plant expansion.

S&Ds secure historic new EU law for more sustainable investments

S&D - Socialists and Democrats

The Socialists and Democrats in the European Parliament have secured a far-reaching new EU legislation that will enhance the transparency and sustainability of investments and clamp down on greenwashing in the European financial sector.

"More focus on competitiveness for the EU 2040 climate targets “

VDMA European Office
Frankfurt, 6 February 2024 – The European Commission publishes today its Communication on the 2040 Climate Targets and its Industrial Carbon Management Strategy. Thilo Brodtmann, Executive Director of the VDMA, comments:
 
  • “A defined intermediate climate target by 2040 is politically correct. The path is more important than the actual number: now the EU Communication indicates how the emission reductions can be achieved.”
     

    HM King Frederik X of Denmark attends stone laying ceremony for cutting-edge wind turbine factory in Poland

    WindEurope

    Today His Majesty the King Frederik X of Denmark, Vestas CEO Henrik Andersen, Szczecin Mayor Piotr Krzystek and WindEurope Deputy CEO Malgosia Bartosik took part in Vestas' foundation stone ceremony for its new nacelle and hub assembly factory in Szczecin, Poland. The new factory is the latest example of the industry’s commitment to expand the European wind supply chain to help meet Europe’s energy security and climate objectives.

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