In November 2022, the COP27 conference in Sharm El-Sheikh, Egypt brought together world leaders to move towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change. The conference may be over, but the work continues. Going forward, all parties must double down on their commitments and implement measures to address climate change mitigation, adaptation, finance and enhance collaboration to further reduce greenhouse gas emissions. To succeed, we must aim to drive investment in low-carbon technologies, prepare for the socio-economic consequences of the energy transition and set near-term milestones to reach our long-term targets. Further public investment is needed to support demonstration projects and emerging technologies that can lead the world of tomorrow. Only through cooperation and shared dialogue between all stakeholders can we achieve the carbon-neutral economy that is necessary to benefit the lives of generations to come. See our recommendations following 2021's COP26 conference.

Transitioning to a greener economy will be the challenge of our time. The European Union has an ambition to lead the green transition and American companies are on board with Europe’s green way to the future. Our members are innovating today to achieve a more sustainable tomorrow. Check out the examples of steps our companies are taking towards Europe's greener future as part of our #EUGreenWay campaign!

The European Commission’s Fit for 55 climate package aims to align European climate, transport and energy-related regulations with the 2030 55% greenhouse gas emissions reduction targets. It includes more than a dozen legislative proposals, ranging from a carbon border adjustment mechanism to cleaner transport and energy efficiency. AmCham EU members are fully committed to making the objectives laid out in Fit for 55 work. For the package to be successful, it must respect the Better Regulation principles, avoid fragmentation, ensure regulatory certainty and be guided by international cooperation and innovation.

In November 2022, the COP27 conference in Sharm El-Sheikh, Egypt brought together world leaders to move towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change. The conference may be over, but the work continues. Going forward, all parties must double down on their commitments and implement measures to address climate change mitigation, adaptation, finance and enhance collaboration to further reduce greenhouse gas emissions. To succeed, we must aim to drive investment in low-carbon technologies, prepare for the socio-economic consequences of the energy transition and set near-term milestones to reach our long-term targets. Further public investment is needed to support demonstration projects and emerging technologies that can lead the world of tomorrow. Only through cooperation and shared dialogue between all stakeholders can we achieve the carbon-neutral economy that is necessary to benefit the lives of generations to come. See our recommendations following 2021's COP26 conference.