Climate Change Capital response to EC 2030 emissions target announcement

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Martin Schoenberg, head of policy at Climate Change Capital, the environmental investment management and advisory group, said:

“A 40% reduction target is the minimum necessary to signal continued political commitment and provide greater certainty for the energy industry and its investors. The European economy is on track for a 32% CO2 reduction by default.

“European leaders need to endorse the 40% target to tackle the carbon bubble. Overvaluing high carbon assets will come to an end when we realise the behaviour of these companies cannot continue and institutional investors will realise their assets are in the wrong place.”