Nordic discussion on the role of business in reaching the objectives of climate action and economic recovery

Business and industry can play their role in realising the ambitions for the European Climate Law and ensuring that the EU-wide recovery stimulus is Green Deal compatible. EK together with its Nordic sister federations organised a webinar to discuss how businesses can help build a sustainable and prosperous economy designed for a net-zero emissions future. Nordic business strongly believes that Europe should continue to have a leading role in combatting climate change, also providing solutions beyond Europe.

In a joined position the Nordic business federations state that the European efforts to combat climate change should be based on ambitious and market-based climate policies, allowing the EU to:

  1. Deliver on its commitments to the Paris agreement.
  2. Pave the way for a competitive Europe with an ambitious and cost-effective 2030-target aiming at net-zero emissions by 2050.
  3. Stimulate the possibility for European companies to provide climate solutions globally.

In the webinar organised from Brussels Nordic companies presented how they can contribute to Europe’s green recovery and how the regulative framework can facilitate this.

Kronsberg Digital, Velux and Valmet all mentioned that we need good policy framework in the EU enabling new technologies to come to the market.

Velux operating in the building sector reminded that only 1% of old buildings are renovated a year when it would need to be 3% to reach the EU’s 2050 carbon neutrality target. Public funding needs to be secured for the building sector to ensure sufficient renovations.

Kronsberg Digital plays an important role in maritime sector’s digital transformation globally. New technologies that reduce fuel consumption and CO2 emissions could be adopted quicker. We need to be more efficient, sustainable and at the same time generate new business. Regulation can push the industry to transform they believe.

Valmet stressed that EU regulation must enable business to do even better, and for example the potential of turning sorted waste to energy in highly efficient Waste-to-Energy processes should be looked into as part of EU’s climate efforts. There are technologies available for creating ”More energy from less waste” already. One concrete challenge Valmet is facing is the unclear wording of Art. 42(1) of the Industrial Emissions Directive. The current wording departs from the general practice of setting emission standards for various fuels. It does not provide certainty for a company trying to sell its products in the Single Market. Valmet welcomes the EU’s new circular economy strategy, that proposes to assess the development of a regulatory framework for certification of carbon removals. The other related legislation, together with assessing the need for compensation for negative emissions, must also be investigated.

Read more: Joint Nordic position on the European Climate Law