The CEO of Enel and CEOs from 11 other European companies joined forces for a zero-carbon future and a more resilient Europe through the formation of the European CEO Alliance.
At the alliance’s first meeting, members agreed to align with net-zero emissions targets set by the European Union as part of the EU Green Deal.
Members of the European CEO Alliance stated that the climate targets set under the Green Deal are feasible, with sustainable growth and future-proof jobs ahead.
The European Union is committed to net zero emissions by 2050, which is in line with the CEO Alliance companies’ own decarbonisation strategies.
The alliance is supporting the Paris 2050 goals, the EU Green Deal and the ambition to raise EU climate targets.
Members represent different industries, generate a combined 600 billion euros in annual revenues and employ 1.7 million people.
Members of the European CEO Alliance stated that emission reductions of 55% by 2030, are manageable.
On the industry side, the CEO Alliance members have already pledged to invest more than 100 billion euros in their respective decarbonisation roadmaps over the next years to help reach these targets.
However, collaboration amongst members of the alliance and energy stakeholders has been identified as key to reaching net-zero targets.
Key areas identified for partnerships include:
- Energy systems and grid modernisation
- Renewable power generation must be scaled up rapidly
- In terms of mobility and transport, the EV charging infrastructure must be expanded and the low-carbon transport or shipping of goods intensified
- Zero-impact production – in particular for renewable power generation components – and sustainable battery production are key aspects in manufacturing and industrial processes
- In terms of buildings and urban environments, the focus is on zero-emission offices and sustainable green city planning
- In regard to new business models, the focus is on carbon tracking with digital technologies in the supply chain. The field of sustainable finance will also offer new opportunities
- The transformation towards a net-zero carbon future needs to be based on a broad public consensus
- Political leaders need to create the necessary political support and incentives
“Our industries do not block, but rather foster the shift toward a carbon-neutral economy. We see growth potential for all industries in the long run. If we manage this historic transformation successfully, sustainable development and new future-proof jobs will be the result. Together, we will support all efforts to reach a social consensus for more sustainability,” according to a statement issued by the alliance.