Suma Capital supports the open letter to the European Union to drive a sustainable recovery
Suma Capital has joined with more than 200 business leaders and investors to raise an open letter to the heads of state of the European Union in which we convey a request: to support the ambition established in the European Green Pact and to reduce emissions of greenhouse gases by at least 55% by 2030.
The petition, signed by companies, investors and business networks, representing more than 3.4 million people, and with a market capitalization of more than 5.7 trillion euros worldwide, expresses our determination to work with the European Union to address the impacts of the coronavirus pandemic, while delivering a more climate-resilient and fully regenerative recovery.
To do this, we demand the urgent implementation of the recovery measures package focused on achieving a green and digital transition. We defend the need to present recovery plans that enable the green investments necessary to achieve climate neutrality, and agree on a clearly defined goal to reduce greenhouse gas emissions by at least 55% by 2030, in conjunction with the associated objectives.
The initiative is led by the European Corporate Leaders Group (CLG Europe), an intersectoral group of European companies working to achieve climate neutrality, in association with Business Ambition for 1.5C, the We Mean Business coalition that includes various entities and groups of work, and the Institutional Investors Group on Climate Change (IIGCC), in addition to having the support of other business and investment networks throughout Europe.
We are convinced that making the right decisions now can help create and protect healthy, prosperous, and just communities, and secure a roadmap to a flourishing economy. From a business and investment perspective, clarity on the net zero transition path and timelines for each sector, as well as the policies to be developed, is essential to enable substantial investments in carbon neutral solutions.
The fight against climate change has always been one of the top priorities at Suma Capital. We were one of the pioneering entities in Europe in the creation of an impact fund to support the energy transition and the circular economy, and we are promoting a project to reduce our emissions by 30% by 2025 and achieve carbon neutrality.
This commitment has allowed us to obtain the maximum A + rating granted by the Principles for Responsible Investment (PRI) of the United Nations, in recognition of the development of our global strategy and good governance as a Responsible Investor.
Access the open letter