Emma Marcegaglia at COP21: Ministers' last chance to reach meaningful agreement

EU industry still doesn't have level playing field with other major greenhouse gas emitters

Today at the global climate summit COP21 in Paris Emma Marcegaglia, President of BUSINESSEUROPE warned negotiators:

• "Time is running out to reach a universal, ambitious and far-reaching legally binding agreement. We need decisive collective effort to tackle this global challenge and can't risk a failure during the last days at COP21."
• "Businesses are an important part of the solution to winning the fight against climate change. EU companies are committed to continue reducing their emissions and bringing innovative low-carbon products, technologies and solutions to the markets", said Marcegaglia.
• "The process on the Intended Nationally Determined Contributions, as well as some already agreed principles in the new negotiating text are a step forward in taking collective actions. Don't miss the chance we've today. Tomorrow will be too late.
• It is important that all major economies make comparable efforts. This is key for the climate, but also essential for not undermining competitiveness of European companies. We need to see all major and emerging economies make ambitious commitments as well as commit to transparent reporting.
• BUSINESSEUROPE has strongly advocated that the Paris agreement includes text that supports the use of markets and market-based instruments to support  the most cost-effective emission reductions. We have also pushed strongly for a more formalised business engagement. We are disappointed that the current draft agreement does not implement these suggestions in a satisfactory manner and look forward to revisions that take our views into account."