Summary
Cefic, representing the European chemical industry, endorses the European Climate Law and the EU’s ambition for climate neutrality by 2050. Cefic appreciates the law’s clear objectives but emphasises the importance of a robust framework to support industry transitions. Significant adjustments in capital stock and business models are deemed necessary, alongside comprehensive policies to safeguard against carbon leakage and incentivise renewable energy. Cefic advocates for detailed long-term investment signals and an EU-wide emissions reduction mechanism to ensure level playing fields and fair burden-sharing across all sectors.
Takeaways
- Supporting Policies: An enabling framework and supportive policies are crucial alongside the Climate Law for effective implementation.
- Sector-Specific Plans: Detailed action plans for individual sectors, especially ‘hard to abate’ ones, are necessary to achieve climate-neutrality.
- Investment Framework: A clear, stable, and predictable investment framework, with regular reviews and checkpoints, is essential for industry transitions towards climate-neutrality.