Business letter on the EU Fit for 55% Package

EuroACE joined business leaders from across Europe in a letter to the Presidents of the European Commission and the European Council, the Slovenian Presidency and the European Commissioners ahead of the ‘Fit for 55%’ package.

As business leaders with a stake in the EU, we see a once in a lifetime opportunity to deliver the transition to a net zero economy, as the world invests in the post-covid-19 recovery and as the world’s biggest economies, corporations and investors themselves commit to a race to zero.

The letter set out ten principles for an effective and coherent package of legislation, including:

• Provide policy certainty for business through governance and regulatory frameworks and transparent stakeholder engagement
• Send a strong signal that Europe’s economic recovery will be achieved through climate action
• Accelerate the transition of our energy systems, and push towards 100% clean power by 2040
• Deliver on energy efficiency and the decarbonisation of sectors such as the built environment, through accelerating energy renovation, electrification and digital solutions and strengthening the Energy Efficiency Directive and Energy Performance of Buildings Directive
• Balance increasing carbon pricing signals with focussed regulatory action to drive investments in key areas like building renovation and EV charging infrastructure