Towards a net zero future: Reflecting on the Covenant of Companies’ successful journey

Europe has set the goal of becoming the first climate-neutral continent by 2050. Thanks to the European Green Deal and its net-zero ambitions, future generations will inherit not only a healthier planet, but also a more modern, efficient, resilient, and competitive European economy.

All sections of society must pull together to make these ambitious goals reality – and we are aware of the importance of not leaving any section of society behind in this transition. This is particularly true for small and medium-sized enterprises (SMEs), which represent 99% of all businesses in the EU. SMEs are not only the backbone of Europe’s economy, but also the cornerstone of the clean energy transition. 

It was in this context that the Covenant of Companies for Climate and Energy (CCCE) was set up two years ago, in January 2022. What started as a pilot initiative has since transformed into a reference point for how to effectively bring EU clean energy policies into the local business sphere. Since the CCCE’s launch over 50 companies and enablers from across the EU have benefited - gaining access to one-to-one technical assistance, advice on energy saving costs, guidance on how to measure carbon footprint, and support to boost sustainability measures.

As the Covenant comes to an end, we are proud to see that the foundational goals of the initiative have been met. Thanks to the Covenant, a wide range of EU companies are now one step closer to climate neutrality and have learnt not only how to navigate their journeys towards sustainability, but also how to benefit from the green transition.

Pilot initiatives are, by definition, pioneering, and the CCCE has been no different. As the first initiative of its kind, the Covenant has laid the foundation for a community of like-minded EU businesses committed to embracing climate action and contributing towards a greener and sustainable future.

We look forward to seeing how the EU will continue to lead the way towards a net-zero future, both in collaboration with the European enterprise ecosystem and with the support of future initiatives carrying on the Covenant of Companies’ legacy.

Georg Houben

Directorate-General for Energy, Unit B1 - Consumers, Local Initiatives, Just Transition