Meet our members | Teppo Säkkinen: How to achieve climate targets in a way that ensures competitiveness and just transition

Teppo SÄKKINEN is a Climate expert from the Finnish Chamber of Commerce. He has been a member of the Employers group of the EESC since 2023, and is the rapporteur of the ongoing EESC opinion on EU climate target for 2040.

As a new member of the NAT section, what is your current role and what are your priorities for this mandate?

This mandate comes at a watershed moment: the beginning of a new mandate at the Parliament and the Commission after the turbulent years of the pandemic, Russia’s ongoing war of aggression on Ukraine, the energy crisis and geopolitical tensions. We at the Committee have the opportunity to add the voice of civil society to discussions on how to proceed from here.

My focus is now on how to achieve our climate targets in practice and in a way that strengthens Europe’s competitiveness. The target is clear, but we need to find a way to adapt and design our policies to this new landscape. Climate policy is now actually economic policy, trade policy and industrial policy. With the new climate legislation now in place, the framework is there and achieving the climate targets is all about investments in clean energy, decarbonising our industries and manufacturing and securing the technologies and materials needed for this transition. At best, this is an opportunity to build a strong and resilient economy and improve our energy security - now we need to do it with our feet on the ground and eyes on the goal.

Back at home, I work at the Finland Chamber of Commerce as an advisor on Climate, Energy and Industries. It is a great vantage point on what is going on, on the ground, in businesses from international leaders in their field to SMEs. I also used to work for the Government and in NGOs, and this background gives me a sense of the diversity of the Committee. What I particularly enjoy in our Section is hearing the different viewpoints from other Members - from other corners of Europe, from different backgrounds like farmers, environmentalists and trade unions. My approach is that no single person or group holds all the wisdom.

You are the rapporteur of the opinion on EU Climate Target 2040. Can you tell us more about it and why it is coming along?

The 2040 target will set the course for the next phase of European climate and energy policy. It is kind of a waypoint to the main goal - climate neutrality by 2050. What we’re now preparing with the opinion is not just about the number but also on how to get there. My take is that it builds on three pillars: ensuring competitiveness and just transition and utilising a broad range of net zero technologies. You need all these elements for an ambitious target to be achievable. The Committee is uniquely placed, so that we will be the first EU body to have a say on the 2040 target. Our opinion can therefore influence and inform the discussions in the upcoming European parliament and the council.

We’re also anchoring the opinion in the global context. Europe is not doing this in a vacuum. The EU 2040 climate target will also set our next Nationally Determined Contribution (NDC), the EU’s share of emissions reductions under the Paris Agreement. This in turn will also impact how far US, China and other major economies are willing to go. This is perhaps the most important impact the 2040 target can have in our fight to mitigate climate change. The global context is also about recognising the changing geopolitical and economic landscape. We face fierce competition on clean investments and security concerns related to dependencies. And behind all this, the impacts of climate change are becoming more and more visible all over the world.

With your experience on the ground how do you see the future developments coming to COP29?

The previous UN climate conference COP28 in Dubai was really a breakthrough in finally spelling out that we need to transition away from all fossil fuels. Now it is mainly about keeping the momentum up. An important upcoming waypoint is the next round of NDCs, where parties will need to live up to their promises of aligning them to the 1.5 degree target. These should be delivered by early next year.

COP29 will have a strong focus on finance, as the parties will establish a new goal for climate finance. The Global South will call for more concrete support from developed countries, while the EU and the US will underline that other major and affluent economies should carry their responsibility. Developing nations, of which many have had very little impact on climate, have a strong moral argument in calling for support in reducing emissions, deploying clean energy and adapting to climate change impacts. At the same time, it’s important to recognise that no amount of public finance can cover global investment needs. We need to find ways to mobilise private finance to fund both mitigation and adaptation in developing countries.

The UN climate negotiations are based on consensus and can sometimes be frustrating to follow. It is still the best and only platform to search for truly global solutions to an inherently global problem. Back in Dubai, it was encouraging that despite all the wars and tensions the countries could still find common ground on the climate. Parallel to the COP process, other forums like the G7 and the G20 have a very important role in pushing for stronger climate ambition. Here the European Union is a key player.