Business leaders urge EU heads of state to signal new economic direction towards net zero by 2050

April 30 2019 – On the eve of the Future of Europe Summit, CEOs from more than 50 businesses, investors and business networks, including Unilever, IKEA and DSM, are calling on the EU to endorse a long-term decarbonisation strategy to achieve climate neutrality by 2050.

Update: Since the open letter from business leaders was published at the end of April 2019, a growing number of organisations are adding their voice to this letter to EU Heads of State and Government to endorse a long-term decarbonisation strategy to achieve climate neutrality by 2050. Across the EU, companies who have signed and endorse the asks of the Sibiu CEO letter have placed climate action and sustainable business models at the heart of what they do and understand that pursuing an ambitious zero emissions future is essential to achieve a prosperous and secure future for Europe. 

Read the letter

In an open letter, leading European businesses, investors and business networks are urging heads of state to put climate change at the top of the EU agenda in order to provide businesses with the confidence needed to invest in sustainable, net zero industries of the future and deliver on their positive economic forecast for a climate neutral transition.

The signatories come from both worldwide and national businesses, across industry sectors, including automotive, energy, retail, chemicals, steel, engineering, insurance, farming, and food and drink, representing more than 1.5m employees from across Europe, including the UK, France, Germany, Portugal, the Netherlands, Finland, Sweden, Spain and Denmark. The business and investment networks supporting this initiative bring together more than 16,000 climate progressive businesses.

The letter states: ‘Putting climate change at the top of Europe’s agenda will provide business with the clarity and confidence to invest in the sustainable, net zero emissions industries of the future, driving innovation and protecting European competitiveness on a global scale … Collectively, we have an urgent task: to decarbonise the global economy in little more than a generation.

‘Every year more of us are setting science-based targets for our companies’ emissions, we are purchasing clean energy and signing up to renewable energy commitments, using low emission and electric vehicles, converting land to carbon sinks and improving energy efficiency throughout our operations.

‘We are doing this because we see the threat that climate change poses to our businesses. The impacts of climate change are already affecting our bottom lines: degrading worker health and productivity, disrupting our operations and supply chains, and damaging assets … A clear, coherent vision from European governments and institutions for climate neutrality by 2050 at the latest will give businesses like ours the long-term guidance we need to invest.’

The signatories, members of The Prince of Wales’s Corporate Leaders Group (CLG), We Mean Business network, The Haga Initiative, the Finnish Climate Leadership Coalition and others acknowledge the urgency of the climate crisis, calling on the EU to lead the way towards decarbonisation of the global economy by 2050 at the latest.

CLG Director Eliot Whittington said:

“As EU heads of state and government discuss the future of Europe they will need to agree not just a political direction, but also an economic and environmental one. The European Commission’s ‘A Clean Planet for All’ document sets out a vision for a net zero economy that delivers a net economic benefit, including the development of new markets, business opportunities and jobs.

“Businesses from across the EU economy are standing up to make it plain that they know the only viable, sustainable business model is one that delivers sustainable prosperity and climate action. They are calling on Europe’s leaders to set out a swift timetable to deliver net zero by 2050 at the latest and to deliver the right policies to unlock business investment and innovation. The next five years will be decisive in establishing the investment, infrastructure and innovations needed for a climate neutral Europe and securing Europe’s competitive edge in the emerging global clean economy. We need to step up, now.”

The Future of Europe Summit in Sibiu, Romania, has been called by European Commission President Jean-Claude Juncker a “crucial moment” for the EU to grasp a world role as the US withdraws from the global arena.

CEO of Unilever, Alan Jope said:

"Businesses have a responsibility to take action that will help address climate change, and many of us are already doing so. But we need to accelerate progress. A European strategy to deliver Net Zero Emissions by 2050 is essential to signal the direction and speed of travel that is necessary to achieve the 1.5 degree ambition set out in the Paris Agreement."

CEO of DSM, Feike Sijbesma said:

“We at Royal DSM are stepping up to transform and future-proof our business by taking bold climate actions. We would urge European governments to do the same by setting foundations for a faster low-carbon transition in Europe.”

CEO of Ingka Group, strategic partner to the IKEA franchisee system and operating IKEA retail in 30 markets, Jesper Brodin said: 

“The time to act is now. For every part of society to contribute to the Paris Agreement, we need an EU-wide long-term strategy to reach climate neutrality by 2050. The IKEA commitment is to become climate positive by 2030, and we encourage EU Heads of State to implement a clear and coherent vision that enables us as a retailer, and other businesses, to contribute our part.”

Signatories

José Manuel Entrecanales, Chairman and CEO, ACCIONA

Alex Wynaendts, CEO, Aegon 

Magnus Billing, CEO, Alecta

Peter Simpson, CEO, Anglian Water

Klas Balkow, President and CEO, Axfood

Marco Gobbetti, CEO, Burberry

Feike Sijbesma, CEO, DSM

Asoka Woehrmann, CEO, DWS Group GmbH & Co. KGaA

Edward Collins, CEO, Earth Capital

Francesco Starace, CEO, Enel

Antonio Mexia, CEO, Energias de Portugal S.A.

Jyri Häkämies, Director General, Confederation of Finnish industries (EK)

Gilbert Ghostine, CEO, Firmenich

Alejandro Agag, CEO, Formula E

Pekka Lundmark, President and CEO, Fortum 

Jens Henriksson, President and CEO, Folksam

Hein Schumacher, CEO, Royal FrieslandCampina

Joost Bergsma, Managing Partner and CEO, Glennmont Partners

John Holland-Kaye, CEO Heathrow Airport Holdings

José Ignacio Sánchez Galán, Chairman and CEO, Iberdrola

Jesper Brodin, President and CEO, of Ingka Group, strategic partner to the IKEA franchise system

Torbjörn Lööf, CEO, Inter IKEA Group

Jouko Pölönen, President and CEO, Ilmarinen Mutual Pension Insurance Corporation

Ian Simm, CEO, Impax Asset Management

Nigel Stansfield, President EMEA, Interface

Anita Falkenek, CEO, Krav

Antti Herlin, Chairman of the Board, KONE Corporation

Eero Hautaniemi, President and CEO, Lassila & Tikanoja

Tex Gunning, CEO, LeasePlan Corporation

Lars Appelqvist, CEO, Löfbergs

Olaf Koch, CEO, METRO AG

Juha Marttila, Chairman, Central Union of Agricultural Producers and Forest Owners (MTK)

Peter Vanacker, President and CEO, Neste

Pablo Bernengo, CEO, Öhman Fonder

Michael Otto, Chairman of the Supervisory Board, Otto Group

Henrik Poulsen, CEO Ørsted

Anders E Johansson, CEO, Polarbröd AB

Frans van Houten, CEO, Royal Philips

Martin Lindqvist, CEO, SSAB

Frank van der Vloed, President, Signify Europe

Anders Egelrud, CEO, Stockholm Exergi

Karl Henrik Sundström, CEO, of Stora Enso

Alan Jope, CEO, Unilever

Magnus Hall, President and CEO, Vattenfall AB

Jason Warner, Zone President – Europe, Anheuser-Busch InBev 

Sakari Lukinmaa, Managing Partner, Castrén & Snellman

David Cutter, Chief Sustainability Officer and President, Global Supply & Procurement, Diageo

Claude Nahon, Executive Vice President Sustainable Development, EDF Group

Nick Perks, Trust Secretary, Joseph Rowntree Charitable Trust

Lars Holmquist, Executive Vice President, Product Management and Commercial Operations, Tetra Pak