Brussels/Frankfurt, 10 December 2020 – On the planned increase in the EU's 2030 climate targets, Karl Haeusgen, VDMA President, says:

“Europe is our home market. The fact that the EU is taking a pioneering role in climate protection is important and good, especially for mechanical and plant engineering, which sees this as a great opportunity. Green technologies developed by the mechanical engineering sector can enable an almost 90 percent reduction of greenhouse gas emissions in industrial applications. This offers new business opportunities especially for the medium-sized, exportstrong European industry.

The planned increase in the climate target for this decade is coherent. However, a 55 percent reduction in greenhouse gas emissions now requires a rapid adjustment of the current market framework. This means, for example, reviewing emissions trading and effort sharing measures among the member states. Industry needs room to manoeuvre; only a technology-open approach can ensure the rapid deployment of the necessary innovations by 2030. In implementing the climate targets, policy makers should refrain from centralised state control and rather rely on market-based instruments. In its legislation and within the framework of the Paris Agreement process, the European Union should contribute to creating a framework in which sustainable emission reductions in third countries can contribute towards the EU climate targets. This would significantly improve the efficiency of climate protection and export opportunities."