JLL signs letter urging European leaders to agree to 55% EU 2030 emissions reduction target
Raising the target from 40% to 55% will support the EU’s long-term strategy to be climate neutral by 2050 and meet the Paris Agreement obligations
JLL joined over 170 businesses including Google, Unilever and Schneider Electric in signing an open letter to European leaders urging them to raise the EU’s 2030 greenhouse gas emissions reduction target to 55%.
Much has changed since 2014 when the EU agreed to reduce emissions by 40% from 1990 levels by 2030. In response to evolving climate science the EU has adopted a long-term strategy to be climate neutral by 2050, and with it a new 55% ambition. This target also forms the basis for the EU’s nationally determined contribution under the Paris Agreement – setting out how the EU will reduce its emissions and adapt to the impacts of climate change to limit global warming to 1.5 to 2 degrees above pre-industrial levels.
Speaking to the European Parliament at the State of the European Union address on 14 September, European Commission President Ursula von der Leyen laid out the proposal to increase the 2030 target for emissions reduction to at least 55%, stating that if others followed this lead the world would be able to meet the Paris Agreement obligations. It is now up to the Heads of EU Member States to agree to this proposal.
Signed by leaders from a broad range of sectors including manufacturing, finance, consumer goods, textiles, power generation and technology, the letter calls on the Heads of EU Member States to avoid the worst effects of climate change and secure a sustainable, competitive economic recovery by:
- Endorsing the ambition set out in the European Green Deal
- Submitting resilient recovery plans which enable the green investments needed to deliver climate neutrality
- Agreeing a clearly defined target to reduce domestic greenhouse gas emissions by at least 55% by 2030 and associated objectives
In support of the letter, EMEA CEO Guy Grainger said: Even during these challenging times corporate commitments to climate action have remained strong. Businesses are ready to help deliver the new more ambitious target of a 55% reduction in greenhouse gas emissions by 2030, and accelerate their activity and investment in environmental sustainability. But this commitment must be matched by individual EU member states, who can show they will do what it takes to help businesses play their part, by supporting the new target.
Visit Corporate Leaders Group Europe for the full letter and more background, including supporting evidence for the 55% target and a full list of signatories and supporting quotes.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.