Investor groups call on the EU to commit to ambitious targets

Investor coalitions have written to the European Union’s (EU) green deal leadership, calling on the EU to commit to ambitious targets ahead of the Fit for 55 negotiations. The organisations represented include the Institutional Investor Group on Climate Change (IIGCC), the UN’s Principles for Responsible Investment (PRI) network, Eurosif (the European Sustainable Investment Forum) and non-profit CDP (formerly the Carbon Disclosure Project). Fit for 55 is part of the EU’s plan for a green transition involving climate neutrality by 2050 and a 55% reduction in emissions by 2030. The organisations argue that the Fit for 55 negotiations will effectively determine the EU’s ability to balance energy security concerns with net-zero ambitions. According to the letter, this increases the value of setting ambitious targets in renewables deployment, energy efficiency and carbon market development. The letter states: “We need ambitious climate and energy targets and policies for 2030 that are in line with the EU’s 2050 net-zero ambition. This would increase investment opportunities, secure financial planning, facilitate risk management and increase market confidence.”