EU electricity firms: We'll be carbon neutral by 2050

Chief executives of European electricity companies this week pledged to make their industry carbon-neutral by 2050.

CEOs from companies in 27 nations — representing more than 70 percent of Europe’s power generation — issued their declaration on the eve of EU discussions focused on the economy, energy and climate.

The declaration states, “We will progressively make use of all available and economically sound low-carbon and carbon-free options when investing in power generation assets, taking into account national energy policies: renewable energies, nuclear power, high-efficiency combined heat & power, and efficient clean fossil technologies including carbon capture & storage (CCS). In addition, we will continue seeking to operate our plants and grids in the most efficient way, while investing to develop innovative low-emitting technologies.”

The statement also called on European policy-makers to help pave the way for carbon-free energy by increasing support for research and development, moving forward on regional integration of electricity markets, simplifying licensing procedures, working with industry to set electrical vehicle standards and providing adequate public information and education.