Vattenfall, Fortum and Statkraft call for carbon neutrality of the European economy before 2050
With a rapidly growing CO2-free power supply, we – Vattenfall, Fortum and Statkraft - are fully committed to lead the further decarbonisation of the European energy system. We believe that ambitious emissions reductions and economic growth can be combined.
The EU must update its long-term climate targets in alignment with the Paris Agreement and the IPCC conclusion, tighten its 2030 climate target and aim for a carbon neutral economy before 2050.
In a joint Nordic initiative, the three CEOs from Vattenfall, Fortum and Statkraft, met with EU Energy Commissioner Miguel Arias Cañete today to express their commitments to further decarbonise the European economy and their view on how this can be achieved.
The CEOs emphasise the importance of electrification as a key enabler for decarbonising other sectors. Setting equally ambitious targets for non-ETS sectors and increasing the electrification rate are crucial early actions.
“We believe that ambitious long-term climate targets can be reached in an affordable manner by using market instruments and sector coupling,” the CEO’s stated in a declaration adding that hydropower will be key in meeting climate targets and integrating intermittent generation from new fossil free energy sources.
The three CEOs; Magnus Hall of Vattenfall, Pekka Lundmark of Fortum and Christian Rynning-Tønnesen of Statkraft, all represent large producers of energy in Europe, with a total combined annual production of approximately 230 TWh in 2017, of which 196 TWh was fossil free. The Nordic power market is the third largest power market in Europe.
For further information, please contact:
Vattenfall’s Press Office, telephone: +46 (0)8 739 50 10, email: press@vattenfall.com
See also
Vattenfall InCharge: Celebrating a milestone on World EV Day
Today, on World EV Day, we proudly celebrate a major achievement in the journey towards fossil freedom. Today in Vattenfall’s E-mobility markets, Sweden, Germany and the Netherlands, electri...
Offshore wind power and passive fishing – the active way to use space
As offshore wind farms expand to power the green transition, the competition for ocean space is intensifying among many users—from fisheries to shipping and conservation.
Best of both worlds – new project uses offshore wind farms to grow seaweed for food production
Iconic actor Samuel L. Jackson describes it as “some serious gourmet sh*t”. Now researchers hope that the learnings from Vattenfall’s project to combine offshore wind and sea farming to prod...