The businesses represented by the European Alliance to Save Energy (EU-ASE) want emphasis on energy efficiency, vital for ‘economic competitiveness’ as well as energy security.

They also argued that energy efficiency savings make substantial cost reductions, potentially saving Europe one to three trillion euros between 2020 and 2030.

CBI director for business environment, Nicola Walker, said: “Progress towards setting an ambitious but credible emissions reduction target of 40 per cent for 2030 is crucial for British businesses at the European Council. Alongside long-term reform of the Emissions Trading System, this target will help to deliver a more robust carbon price at EU level and drive vital investment.

“Industrial competitiveness is at the heart of the 2030 package but EU support for energy intensive industries must be improved to ensure low carbon ambition translates into real market opportunities for all sectors of the economy.”

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