Renew Europe will build alliance for binding 90% emissions cut by 2040

Reacting to the European Commission’s proposal on the EU’s 2040 climate target, the Renew Europe Group in the Parliament reiterates its call for the adoption of a binding, science-based target to cut greenhouse gas emissions by 90% by 2040, as required under the European Climate Law. “I welcome the 2040 target proposed today by the European commission. This is as much a climate action tool as a tool to strengthen competitiveness, economic growth and energy security. A clear and predictable climate framework will stir innovation in future-proof technologies. The Renew Europe Group stands ready to build a pro-European majority to support the 90% target.", said Renew coordinator Pascal Canfin. The group is committed to achieving the next EU climate target and reconfirms its position that policies dedicated to achieving the target should uphold the integrity of the EU's climate ambition and its climate legislative framework, including the ETS.

Economic growth, competitiveness and lower energy costs

Renew believes that embracing the target with a science-based and market-driven approach is the only way to enhance competitiveness, unlock business opportunities and drive innovation. By accelerating the deployment of renewables and energy efficiency measures, Europe can drastically cut its dependence on volatile and expensive fossil fuel imports, protecting businesses and consumers from price spikes and supply shocks. Scaling up clean electricity and electrifying key sectors will reduce overall energy demand and lower long-term energy bills. Increased domestic production of affordable, renewable energy will make European industry more competitive and ensure more stable and predictable energy prices for households.

Renew Vice-President Gerben-Jan Gerbrandy highlighted: “The 2040 target offers a clear signal to business: the days of fossil are truly over. Companies can fully commit to the technologies of the future in their investments for the next decade and reduce their dependence on fossil fuels. This will make Europe the leader in innovation and clean technology, make us energy independent from oil and gas dictatorships and bring down energy costs for households and industry.”

Climate neutrality and resilience

Europe is heating up faster than any other region in the world. Without dramatic cuts to global emissions, climate change will threaten the European economy, food production, security and public health. Uncontrolled climate change will increase security threats, conflicts and migration pressures.

Renew MEP Emma Wiesner noted that: ”It is important that we now have a proposal for a EU binding 2040 target. That the EU delivers a strong message at COP30 in Belem, staying on course towards the Paris Agreement is absolutely critical given the timing and the US backtracking on climate objectives. I am however concerned, that the proposed deviations from a strict 90% reduction target lowers EU ambitions, deviates from scientific advice and steers investments away from European industry. It is important to ensure measures are in place limiting these potential negative effects - for these reasons we will remain a constructive force of this parliament.”

This is an opportunity for Europe to lead the clean energy transition and produce its own affordable energy rather than relying on expensive imports. By prioritising cost-effective measures and supporting technological innovation, the 2040 target will help bring down energy costs, strengthen energy security, and deliver a fair transition for all communities.