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Total, BASF, Dow, Other Firms Urge EU to Restore Investment in Emissions Policy

eu flagBASF, Dow Chemical, Total and 11 other manufacturers are urging the European Commission to create a single greenhouse gas emissions reduction target as part of its proposed energy and climate policy package for 2030, Bloomberg reports.

The European Union plans to propose its policy package for 2030 on Jan. 22. The group of manufacturers, which also includes UPM and steelmaker Arcelor Mittal, sent a letter to the European Commission with requests to create an energy and climate policy that helps restore industrial competitiveness and restarts investments in Europe.

Specifically, the letter makes four requests including that there should only be one single realistic GHG target, matched by a second target addressing industrial growth. Both targets must be watched closely and readjusted if Europe is not on track to deliver, the manufacturers say.

The group also says that in the decade between 2020 and 2030, the CO2 target should include two paths within the same ETS: one with full direct and indirect compensation allowing for growth of industry, and another for the sustainable decarbonization of the power sector.

The EU could set a carbon-reduction target alone or agree on a set of binding emissions cuts combined with a renewable energy goal, Bloomberg says. In the first scenario, the goal may be to lower carbon discharges by 40 percent in 2030 compared to 1990 levels.

The second option would combine a 40 percent emissions cut with a 30 percent goal for renewables or cutting GHGs by 45 percent and boosting the share of renewable energy by 35 percent, according to a draft assessment of the new framework by the commission, Bloomberg reports.

Last year, EU environment ministers bowed to pressure from Germany and agreed to change a draft law to cap emissions from cars. The decision came after the EU reached a compromise deal in June 2013 that ensures all new cars manufactured in 2020 and beyond will emit no more than 95 grams of carbon dioxide per kilometer. Each manufacturer will have an individual target for reducing CO2 emissions, under the rules outlined in the agreement.

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