Brussels, 21 January 2021 – On his first day in office, President Biden announced that the United States is re-joining the Paris Agreement. The American Chamber of Commerce to the EU (AmCham EU) applauds this decision which signals his Administration’s intent to tackle climate change through a global framework that engages all players.
Susan Danger, CEO, AmCham EU, said: ‘We represent companies that are already researching, developing and investing in low-carbon solutions and technologies. We have always advocated for a stable and predictable framework for investments to encourage and sustain these efforts. The Paris Agreement provides clear goals as well as a balanced and cost-efficient approach to reducing emissions.’
She added: ‘Climate change knows no national borders and dealing with greenhouse gas emissions requires a global solution. We look forward to the renewed engagement and leadership of the US Administration on the global stage. Strong cooperation with the EU and other international partners will be absolutely essential to achieve climate ambitions.’
For further information, please contact Thibaut L’Ortye, Associate Director of Public Affairs (TLO@amchameu.eu).
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The Carbon Border Adjustment Mechanism (CBAM) will test whether the EU can address carbon leakage while keeping investment in Europe. As implementation of the CBAM advances, companies face costs and reporting duties under rules that are still taking shape. Preventing carbon leakage matters. However, the CBAM should work in practice before scope extension is considered. Moving too soon could place burdens on companies and disrupt value chains, with consequences for investment and trade. The focus should be on avoiding measures that introduce further uncertainty and extending proposed safeguards in the Temporary Decarbonisation Fund beyond 2027. Learn how to shape the CBAM so it prevents carbon leakage while maintaining competitiveness.
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Europe’s clean industrial transition will depend on policies that can unlock investment, strengthen energy systems and support sustainable transport. From Tuesday, 16 to Wednesday, 17 June, AmCham EU travelled to the European Parliament in Strasbourg, France for a series of meetings on EU transport, energy and climate policy developments. The delegation engaged with Members of the European Parliament and political group advisers to share business perspectives on Europe’s clean industrial transition. Discussions focused on the Industrial Accelerator Act, the revision of the EU Emissions Trading System, the Carbon Border Adjustment Mechanism, the Grids Package and energy security. Members highlighted the need for predictable, technology-neutral rules that support investment, strengthen Europe’s industrial base and preserve openness to trusted partners.
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The Industrial Accelerator Act will be a key test of whether the EU can strengthen industrial competitiveness while advancing decarbonisation. With significant pressure already weighing on businesses in Europe, from high energy costs and supply chain disruptions to unnecessary red tape and intensifying global competition, getting that balance right matters. If Europe fails to send clear signals that it remains a predictable place to invest, capital will go elsewhere.
AmCham EU supports the objectives of the IAA, but its success will depend on how it is designed. A central question in the debate is how ‘European preference’ should be approached. Strengthening Europe’s economic resilience and security is a legitimate objective. However, an approach that creates uncertainty for companies from partner countries, particularly by leaving key decisions to secondary legislation, risks undermining investment and limiting access to the technologies needed for the transition.
The focus should instead be on providing clarity early and rewarding companies that create real EU-added value through manufacturing, R&D, skills and emissions reductions. Learn more in our full paper.
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