Three Targets for a Sustainable Industry 2030
The European Pact for Sustainable Industry aims at making the EU Green Deal a success by unlocking the synergies between companies, industry federations, and policymakers.
Watch the inauguration at the opening plenary of the SDG Summit 2020
As we continue to battle the repercussions of the COVID-19 pandemic, it is more important than ever that we do not return to ‘business as usual'. The crisis is turning into a global stress test that could create a world that will be less sustainable by design. But it does not have to be like that.
With the European Pact for Sustainable Industry, we want to turn the post-pandemic recovery into an economic reset and make it the blueprint for a sustainable future. To be able to shift from a volume to a shared, value-driven economy that leaves no one behind, the Pact envisage the creation of impactful partnerships between companies, industry federations, and policymakers to bridge the current EU economic silos, across borders and value-chains.
To achieve impact at scale, the Pact sets out three different targets for:
Industry Federations
To have a sustainability roadmap for each industry federation by 2024
Companies
To have 10.000 companies engaged in sectorial- and cross-sectorial collaborations by 2030.
Policymakers
To leverage the collaborative actions of companies and implement an inclusive level playing field.
Sustainability must become everyone’s business if we want to overcome challenges like COVID-19 and climate change.
“We are calling on everyone, not just the big companies; Sustainability should become the driver for the inclusive and green growth of our 27 million enterprises in Europe” said Ilham Kadri, CEO Solvay, who inaugurated the Pact on 26 October.
Antonio Cammisecra, Head of Global Infrastructure and Networks Division at Enel, stressed in particular the close cooperation between industry sectors as key to move from a vertically integrated ecosystem to a new paradigm that includes horizontal collaboration between and across sectors.
To keep track of the progress made and facilitate the translation of a shared industry vision into a common roadmap, the Pact will be accompanied by the Sustainable Industry Barometer. At the Summit, industry federations agreed that the creation, collection, analysis, and reporting of data is essential to translate a sustainability vision into a strategy and gradually into a roadmap with clear reporting indicators designed to enhance the transparency of the whole sector. As argued by Jens Schmidt-Bürgel, Managing Director, Head EU-27 at Moody’s, this instrument will help market participants to advance strategic resilience and foster a green and digital economy by identifying material risks and opportunities within meaningful data on performance.
CSR Europe is currently working with Moody’s and Vigeo Eiris to carry out a systemic benchmarking of ESG Performance of 40 strategic Industry Sectors.
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