Low-carbon investment and innovation can only thrive with a globally competitive European industry that is able to deliver the solutions for a successful low-carbon transition.
The EU has to take a leadership role in global climate diplomacy with a view to safeguarding a global level playing field across sectors and across geographies. This includes building trust and openness through global common metrics for monitoring, reporting and verification.
It is vital that all signatories of the Paris Agreement keep to their commitment and put in place policies, such as carbon pricing, to reach the agreement’s objectives. However, carbon pricing alone is unlikely to trigger the required levels of low-carbon investment. Climate policy should evolve towards a holistic approach that encompasses demand-side initiatives to ensure the systematic mobilisation of all actors across value chains.