Nordic Capital’s Post

The European Commission's latest proposition to cut EU emissions by 90% by 2040 marks a significant leap towards climate neutrality by 2050. This bold move underscores the urgency of climate action and highlights the essential role of innovation and strategic investment in our collective journey towards a sustainable future. 🌍 Achieving this ambitious target demands a robust investment shift towards clean energy, industrial decarbonization, and enhanced energy efficiency, with the private sector playing a pivotal role. The vision is clear: fully decarbonize the energy sector by 2040 and drastically reduce transport emissions. 🤝 The Commission's strategy emphasizes the importance of stakeholder dialogue, particularly in sectors like industry, balancing environmental goals with economic and societal needs. Furthermore, the proposal to enhance the Green Deal into an "industrial decarbonization deal" reflects a commitment to leveraging Europe's strengths in renewables and cleantech, fostering economic resilience and innovation. In my view, the European Commission's ambitious target is not just a challenge but a significant opportunity for innovation and growth. The push towards clean energy and decarbonization requires a substantial shift in our investment and business strategies. I believe that the private sector's role in this transition is crucial. By fostering an environment that rewards low-carbon investments, we can drive a wave of innovation that addresses climate change and propels the European economy forward. This is a moment for businesses to lead by example, turning ambitious climate goals into actionable, sustainable practices.

In a joint op-ed, MEP Angelika Niebler and our CEO Andreas Sichert shed light on the critical role of innovative technologies in achieving climate neutrality and economic prosperity. As they aptly put it, intentions are essential, but decisive action is paramount. The European Green Deal holds the key to transforming Europe into a fairer, more sustainable economy, with ambitious climate targets recently unveiled by the European Commission for 2040. However, challenges lie ahead as Europe's climate leadership faces competition and businesses seek more favorable conditions abroad. This underscores the urgency for Europe to enhance its efforts and leverage concrete levers, such as the Net-Zero Industry Act and taxonomy, to spur clean economic activities and drive emission reductions. The time is now for Europe to deliver on its Green Deal promises, empowering businesses to create jobs, drive economic growth, and make significant CO2 savings. Read the full op-ed here (behind the paywall): https://lnkd.in/dHzFrF2Z #ClimateAction #GreenDeal #InnovationLeadership #EnergyEfficiency

As London Climate Action Week gets underway, we reflect on the progress we’ve made so far against our climate strategy: ◼️ Mobilised $67.8bn in Sustainable and Transition Finance in 2023, against our target to provide $1trn in of financing by 2030 ◼️ Reduced our financed emissions in the Energy sector by 44% since 2020 ◼️ Invested £138m in over 20 innovative climate tech companies through our Sustainable Impact Capital portfolio #LCAW2024

The global discourse on the pressing need to address climate change and move towards sustainable, low-carbon energy sources has given rise to the concept of a ‘just energy transition’. This transition involves the shift from conventional, fossil-fuel-based energy systems to cleaner, more sustainable alternative energy sources. At the very heart of this revolutionary undertaking lie the legal, regulatory, and institutional frameworks that provide the necessary predication and support for a transition that is not only environmentally sustainable, but also socially and economically just. The role of legal, regulatory, and institutional frameworks in enabling a just energy transition cannot be overemphasized. These frameworks provide the essential structure, direction, and support needed to navigate the complexities of the transition to a more sustainable and equitable energy future. Through thoughtful legislation, effective regulation, institutional support, and a commitment to social and environmental justice, nations can pave the way for a just energy transition that benefits both current and future generations. As we navigate the contemporary challenges of climate change, energy poverty and underdevelopment, these frameworks become indispensable tools in shaping a world powered by clean, just, and sustainable energy. Here’s more - https://lnkd.in/d9JjFbTF

The recent proposal by the European Commission to reduce greenhouse gas emissions by 90% (with a 1990 baseline) is a good first step towards fully decarbonising our region by 2050 or earlier. The science is clear: we need to act now. The EC recommendation comes at a crucial moment in Europe, with protests all over the continent and the EU Green Deal put on the spot in view of the upcoming European elections in June. Mayors are ready to play an active role in ensuring that the climate transition protects the most vulnerable communities and sectors from the injustices of the climate breakdown. The green transition needs to be just and fair, and those that fear its consequences, reassured that their concerns will be addressed equitably. Mayors are looking forward to working very closely with the new European Commission, following the June elections, in ensuring that the proper policies and investments necessary to make the green transition a reality for all Europeans. Read the full statement from C40 Vice Chairs below ⬇️

I am sharing this post from European Energy 🙂 💪 with the main highlights on the recently released provisional political agreement on the Net-Zero Industry Act (NZIA). And below the link to the press release issued by the European Commission with next steps and link to the complete document. A must-read, I would say, for everyone in every industry. https://lnkd.in/dTthebp6; https://lnkd.in/d3b5fxpr

As you may know, the Science Based Targets initiative recent proposal to include carbon credits for abatement purposes in tackling value chain emissions, can accelerate corporate climate action worldwide. 📉📈 The gap between corporate ambition and action compromises progress. While many companies have committed to ambitious targets, the increase in corporate climate finance hasn't matched. Only a fraction of companies are on track to meet their climate goals. 🎯 SBTi's proposal aims to address challenges in estimating emissions, setting targets, and demonstrating progress, especially for Scope 3 emissions. By providing clarity on how various tools, including carbon credits, can be used responsibly, SBTi is paving the way for companies eager to deploy investments and drive meaningful change toward a sustainable future. #climategoals #netzero #sustainability #carboncredits

What do C40 Cities Mayors have to say about the European Commission proposal on the #2040climatetargets? While the proposal might seem ambitious, a lot remains to be seen on whether such an ambitious target will be finally approved and how it will be put into practice. We are looking forward to collaborating with the European institutions on the development of the next Fit for 90 package. One of my first external engagement action part of my new role at C40 Cities.

The Science Based Targets initiative (#SBTi) consideration of carbon credits is a potential game-changer for businesses in the fight against climate change. While companies set ambitious goals, finances and measuring indirect emissions are hurdles. Carbon credits could incentivize investment in critical areas like sustainable aviation fuel, but ensuring responsible use and prioritizing direct emission reduction are crucial. SBTi's upcoming guidelines on this by July 2024 will be something to look out for. https://lnkd.in/dkUuy5ck #CarbonCredits #CarbonOffsetting #NetZero #Decarbonization

C40 welcomes the European Commission's latest 2040 climate targets, setting a path to a climate-neutral Europe by 2050. To achieve this, we urge the European institutions and Member States to: ⬆️ Increase climate ambition and ensure alignment with the EU scientific advisory board’s recommendation of a 90-95% emissions reduction by 2040. 📢 Ensure cities have a say in developing and implementing measures such as the Fit for 55 green transition package to accelerate impactful and equitable action. 💶 Speed up the flow of urban climate finance to enable a just transition and help cities deliver 50 million good, green jobs. Read more from C40 Vice Chairs, Giuseppe Sala and Sophie Hæstorp Andersen, on their vision for a safe and more sustainable Europe: https://bit.ly/3UShNwn #UnitedInAction