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Investment and Growth from Climate Action

On 23rd-24th October 2014, the European Council is expected to make a historic decision to finalise the 2030 Climate and Energy Package. The impact of this policy package will be far-reaching, not only guiding Europe’s climate and energy strategy for the next decade and half, but also providing the basis for Europe’s contribution to international climate negotiations and a hoped-for agreement in Paris in 2015.

Climate policy debates in Brussels have recently tended to pitch climate action against industrial competitiveness. Numerous organisations have spoken out against this view and laid out an alternative narrative of green growth most recently illustrated in the New Climate Economy report ‘Better Growth, Better Climate’1

CDP has created this briefing confident that it will provide a useful further contribution to these policy debates. The briefing is launched alongside its global report ‘The A List: The CDP Climate Performance Leadership Index 2014’. CDP’s Climate Performance Leadership Index (CPLI) is an index highlighting companies that exhibit leadership through their actions to mitigate climate change. 

This briefing drills down to the European context, looking at climate disclosures from Europe’s 300 largest listed companies, which represents 68% of EU market capitalisation. 

The briefing shows that:

  • 92% of responding Euro 300 companies report that climate regulation presents an opportunity to their business.
  • European companies are investing in climate action: 98% of responding European companies are actively undertaking emissions reduction initiatives which result in world leading results.
  • European companies are proportionally over represented in CDP’s global CPLI index. Analysis shows that this index has outperformed mainstream indexes over the last few years.
  • Euro 300 companies are disclosing policy positions which call for a strong Climate and Energy Package on the basis that this will enable future investment.

It is clear that we need a balanced policy debate at the European level, one which recognises the voices of a significant number of large listed companies that foresee future growth and competitiveness under an ambitious regulatory environment. With strong EU regulation, European companies will be better placed to benefit from the transition to a low carbon economy.

By adopting an ambitious 2030 Climate and Energy Package, the EU will signal a clear direction towards a low carbon economy that will enable companies from all sectors to plan for and invest in a sustainable future. Those companies will be well placed to offer the global economy the goods and services it will need in a resource constrained world. 

#ClimateFinance

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Enrique Rebolledo
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23 October 2014

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