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A coalition of 47 businesses, civil society organisations, associations and investors has urged EU Commissioners-designate to prioritise investments in Europe’s green and just transition to sustain the region’s competitive sustainability. In a public letter, they say a robust EU investment plan is essential to meet the EU climate and biodiversity goals under the European Green Deal.
The letter is addressed to Commissioners-designate Ribera, Séjourné, Hoekstra, Albuquerque, Serafin and Jørgensen.
They write: "A predictable and stable regulatory framework is crucial to attract private investments. Maintaining, implementing and enforcing EU environmental and climate laws is of paramount importance as businesses require certainty to integrate climate action and circularity into their strategies and to roll out the most efficient emission reduction technologies and pollution prevention techniques. Investors need stability to reap benefits from sustainable investments and to mitigate the growing financial risks posed by climate change and ecosystem loss.
Alongside unlocking private investments, public investment is essential to steer a just transition and crowd in private capital. Targeted support for economic operators should bolster investments in industrial transformation and nature-based solutions, ensuring a level playing field across Europe. Public funds should be used wisely, with access granted to businesses committed to genuine decarbonisation and taking meaningful steps in their decarbonisation pathways.
We urgently need a major EU investment plan to deliver on competitive sustainability. A greener EU budget and a successor to the Next Generation EU programme must stand at the heart of a comprehensive investment package. EU funds, public banks and national budgets can collectively catalyse investments in the green transition, build sustainable infrastructure and restore nature."
To find out more, download the letter.
