In Net Zero We Trust

The coronavirus crisis will not stop efforts to decarbonise economies. Unless the EU acknowledges it and drops the calls to delay climate policies, we will fail to secure the competitiveness of our markets.

Within a few weeks, it became clear that the unthinkable is possible and even the basics of our societies cannot be taken for granted. The virus interrupted global supply chains; tourism came to a complete standstill and in consequence, the world is possibly looking at the biggest economic crisis since the great depression.

The European Commission expects that the EU’s GDP will decrease by more than seven per cent in 2020, which is the biggest drop in its history.

Numerous calls to delay our goals in terms of climate neutrality make the EU’s climate policy the first victim of the looming crisis: cash-strapped companies claim that they are not able to afford the investments required to make their operations climate neutral. Yet, this is a misunderstanding and following this principle will undermine Europe’s economic recovery.