EuroCommerce Welcomes Launch Of Net Zero Industry Act

By Steve Wynne-Jones
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EuroCommerce Welcomes Launch Of Net Zero Industry Act

EuroCommerce, which represents the retail and wholesale sector in Europe, has applauded the recent launch of the Net Zero Industry Act and the adoption of the temporary crisis framework and General Block Exemption rules as important steps towards achieving the European Union's (EU) climate goals.

The sector is committed to playing its part in accelerating the energy transition and reducing its consumption of energy, according to Christel Delberghe, EuroCommerce director general, who emphasised the need to shift policymakers' attention from the supply side to the demand side.

'A Significant Role'

“Retailers and wholesalers are present throughout the EU and can play a significant role in driving the demand for renewables and investment in renewable energy production," Delberghe commented. "Creating incentives to increase investments in net zero operations, including the generation and storage of green energy itself, can offer win-win outcomes.

"These benefits will help provide the EU with the opportunity to meet its climate goals and will encourage improvements in energy efficiency and innovation by our businesses. This, in turn, will help reduce energy price volatility and offer more stable prices for EU citizens, improving the competitiveness of our EU businesses and the competitiveness of the EU itself, simultaneously.”

The retail and wholesale sector accounts for a significant portion of energy consumption, consuming 220-240TWh per year. However, the sector is working to reduce its consumption through commitments to the UN Race to Zero and sharing best practices on energy-saving and sustainability measures.


Read More: Green Deal Industrial Plan An Opportunity For Retailers And Wholesalers: EuroCommerce

Reducing Emissions

A recent study by EuroCommerce and McKinsey recognised the potential of retailers and wholesalers to reduce up to 90% of their Scope 1 and 2 greenhouse gas emissions by 2030. However, this requires an investment of up to €300 billion, and the sector also needs incentives to feed excess energy produced by solar panels and wind turbines back into the grid.

Delberghe believes this could offer huge potential benefits for Europe, including reducing energy price volatility, improving competitiveness, and encouraging innovation by businesses.

"Retail and wholesale can be a key partner in the delivery of the Green Deal Industrial Plan's objectives," she added. "We welcome the focus on support mechanisms for suppliers of clean energy and technology. However, to be a success, and to achieve the Green Deal's ambitions, the strategy also needs to be reinforced with concrete incentives for users, including through access to financial support.”


Read More: EuroCommerce Calls For Urgent Support For Retail And Wholesale Amid Rising Energy Costs

© 2023 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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