On February 6^th, 2024, the European Commission recommended that the EU commit to reducing its net greenhouse gas emissions by 90% by 2040. This ambitious target is a critical milestone between the EU’s commitment to reducing net greenhouse gas emissions by 55% by 2030, and the EU Green Deal’s goal of climate neutrality by 2050.

Enerkem welcomes this ambitious target, which sets the EU on the right path of the energy transition. Sustainable fuels and circular chemicals have an active role to play in this transition towards a sustainable future. In this position paper, Enerkem submits its comments on the 2040 Climate Targets and its recommendations for the upcoming EU Strategic Agenda 2024-2029.

Recommendations for the EU Strategic Agenda 2024-2029 

• Closing the price gap between fossil and sustainable requires significant investments. To reach its energy and climate targets, the EU should provide targeted fiscal support for sustainable fuels and circular chemicals.
• Regulatory uncertainty can become a make-or-break factor in large scale industrial projects. To provide predictability, adopt a clear long-term roadmap for the uptake of sustainable fuels and circular chemicals in the EU.
• Ensure that every sector of the economy contributes to the transition to sustainable energy. Specifically, integrate the chemical industry into the Renewable Energy Directive by establishing specific targets for reducing its carbon emissions and providing incentives to achieve these goals.