Nordic business networks call for European carbon budget

Ahead of the European Council, on the EU Commission’s communication on 2030 climate target, Nordic bussiness climate networks representing more than 80 Nordic companies, urge the European leaders to set long-term goals and a carbon budget.

A transparent carbon or greenhouse gas budget would clarify the target and strengthen the mutual trust between the private sector and EU institutions.

A carbon or greenhouse gas budget, setting out the total remaining quantity of greenhouse gas emissions as CO2 equivalent by until 2050, would clarify the long-term target and would create a natural foundation for the right amount of emission allowances within the expanding ETS. A budget would improve predictability and the robustness of the CO2 price. We were pleased when the European Parliament’s Environment, Public Health and Food Safety Committee supported the need to define the greenhouse gas budget.

Read the entire letter here.