We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
Climate Lobbying Overview: EuroCommerce appears to have mixed positions on climate change policies, with limited engagement on EU climate regulation. While expressing positive top-line messaging for increased ambition to reduce greenhouse gas emissions, the organization appeared somewhat unsupportive of detailed policies tackling the issue, emphasizing the risks for competitiveness.
Top-line Messaging on Climate Policy: EuroCommerce has mixed top-line messaging on climate policy. In October 2022, EuroCommerce published a press release suggesting support for GHG emissions reductions in line with 1.5°C target, a position consistent with IPCC recommendations. While the association stated broad support for the EU Green Deal on its corporate website in June 2021, it seemed to not support EU member states to set more ambitious climate targets than EU-wide ones in October 2022. Following the Russian invasion in Ukraine, EuroCommerce advocated in a March 2022 press release, for the EU to delay the implementation of key climate regulations, suggesting that the EU economy would not be able to absorb the additional constraints.
Engagement with Climate-Related Regulations: EuroCommerce appears to have limited transparent engagement on specific climate-related policies in recent years. The trade association took broadly unsupportive lobbying positions, in particular with regards the EU Carbon Boarder Adjustment Mechanism. In an EU public consultation response from October 2020, EuroCommerce argued the scheme would not help achieve climate goals while exposing the regional industry to unfair competition. In an August 2022 press release, EuroCommerce opposed more ambitious energy efficiency targets, suggesting support for lower targets in the Energy Performance of Buildings Directive. EuroCommerce Director-General Christian Verschueren stated broad support for the EU’s 2030 GHG emissions reductions targets, in a press release from July 2021.
Positioning on Energy Transition: EuroCommerce does not appear to have a detailed position on the energy transition. In a statement from August 2022, the association seemed to suggest that providing financial relief for companies should be prioritized over climate goals. Similarly, a March 2022 press release supported a suspension of taxes on energy products. In May 2022, EuroCommerce Director General Christel Delberghe stated support for the RePower EU plan to reduce imported fossil fuel consumption, but it remained unclear whether switching to alternative energy sources includes non-renewable sources.