3,500 European utilities companies pledge to become carbon neutral by 2050
The Union of the Electricity Industry (EURELEC) now represents over 3,500 companies with an aggregate turnover of €200 billion.
“Electrification of heating, transport, and industry is a win-win. It comes with higher efficiency and lower CO2 emissions. We should do everything possible to advance electrification with smart regulation,” Magnus Hall, CEO of Vattenfall and Vice-President of Eurelectric.
The union has been formed to create a greater call to action for policymakers and stakeholders to accelerate electrification to generate further support regulation and investment.
Kristian Ruby, Eurelectric’s Secretary General, also said: “The commitment and ambition expressed in this vision are challenging, especially for regions which depend on high carbon value chains. We, therefore, call on policymakers to do their utmost to ensure a fair and responsible transition, both socially and geographically, and provide the necessary support and funding to address any socio-economic impacts.”
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