Home Stock Market European executives, lawmakers put more pressure on Biden to increase climate targets

European executives, lawmakers put more pressure on Biden to increase climate targets


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© Reuters. FILE PHOTO: Democratic Biden 2020 US presidential candidate walks past solar panels in Plymouth

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By Kate Abnett

BRUSSELS (Reuters) – European politicians, companies and unions on Tuesday urged the United States to cut at least 50% of its greenhouse gas emissions this decade, increasing the pressure on Biden administration ahead of next week’s climate summit.

The world’s largest economy is expected to announce its emissions cut target at the virtual meeting held by the US on April 22 – a move that could motivate other major emitters. is now cutting emissions needed to avoid catastrophic climate change.

107 European signatories said in a joint statement.

Signatories include about 20 EU legislators and 50 executive directors, including Alan Jope of Unilever (NYSE :), Helena Helmersson of H&M and Matt Brittin, head of EMEA’s Sales & Operations Division. Google (NASDAQ :).

They call for more transatlantic cooperation as the EU pursues a plan to eliminate net emissions by 2050 and cut at least 55% by 2030, from 1990 levels – commitments so far surpassed. far from the ambitions of other major economies.

Achieving those goals will require huge investments in renewable energy, carbon-cutting industrial technologies and zero-emission transportation.

The current US commitment, made under former President Barack Obama, is that emissions by 2025 are 26% -28% lower than 2005 levels.

Environmental groups have urged Washington to reduce emissions by at least 50% this decade, from 2005 levels. Analysts say a 57% -63% cut will put the country on the right track. net zero emissions by 2050 – a goal that scientists think the world must achieve to limit global warming to a safe level.

Pascal Canfin, France’s European Parliament member who led the letter, said a strong signal from Washington could usher in bold action from other countries. India, the world’s third largest emitter after the United States and China, is among those under pressure to make more ambitious commitments.

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