European Green Deal
What is the European Green Deal?
The European Union is pursuing goals for sustainable business and more climate protection. This EU growth strategy is designed to ensure that the path to a resource-efficient and competitive economy is achieved. The European Green Deal encompasses all of these goals. By 2030, the EU should have reduced its greenhouse gas emissions by at least 55 percent. By 2050, the EU will be climate neutral. A socio-ecological transformation toward sustainable development requires a great deal of effort in the individual transformation fields.
The European Green Deal comprises the conceptual basis for the transformation to a climate-neutral EU. Ground-breaking strategies in different areas set the building blocks for a new economy that is modern, resource-efficient and competitive. A greenhouse gas-neutral EU can only emerge if there are no more net greenhouse gas emissions. In addition, pollutant emissions must be significantly reduced, and a circular economy promoted.
European companies should thus become world market leaders in climate-friendly products and environmental technologies. In addition, economic growth is to be decoupled from resource use. In this context, people, and regions whose economic existence is threatened by the transformation of the economy are also to be taken care of.
What changes does the deal imply?
Primarily, the plan calls for action in the following areas: Climate, Energy, Environment and Oceans, Transportation, Finance and Regional Development, Research and Innovation, Agriculture and in Industry.
Benefits of the Green Deal include clean air, clean water, healthy soil, and biodiversity will be promoted. In addition, buildings are to be renovated and thus become more energy efficient. The goal is also to make healthy and affordable food possible. Furthermore, public transport is to be expanded. With the help of the deal, clean energy and state-of-the-art clean technology are to be made possible. The agenda of the deal also aims at more durable products that can be repaired, recycled and reused. At the same time, the Green Deal will promote sustainable jobs and ensure the transfer of skills needed for the transition. It also aims to make Europe a globally competitive and crisis-resistant industry.
Actions in the various fields
How can the benefits be reaped as quickly and equitably as possible, driving environmental change in the EU while boosting competitiveness, creating jobs, and minimizing costs and impacts? One thing is certain: "The cost of doing nothing will be significantly higher than the cost of implementing our climate targets." (European Commission [1]).
Europe can only become a climate-neutral continent if the economy and society are transformed. All sectors of the economy must be prepared for the challenges so that climate goals can be achieved in a fair and cost-effective manner, as well as while preserving competition.
The European Union [2] emphasizes: "Climate change is the greatest challenge of our time. At the same time, it also offers an opportunity to develop a new economic model."
The Commission has presented the most comprehensive package of proposals in the field of climate and energy. To achieve climate neutrality, the EU proposes targets to reduce CO2 emissions from passenger cars and light commercial vehicles. Green and smart mobility can only come about if a clean, accessible, and affordable transport system is created - in all regions. Through a charging infrastructure, the Commission aims to promote market growth in zero- and low-emission vehicles. It has also come up with ideas for air and maritime transport. Sustainable aviation fuels are to be promoted and a CO2 tax is to provide guidance in this regard. The Green Deal proposals extend to the entire value chain. This will create sustainable, local, and well-paid jobs throughout Europe. Furthermore, the European Commission sees great potential in expanding renewable energies and increasing energy efficiency. A clean energy system can reduce greenhouse gas emissions. Opportunities for a greener lifestyle are also emerging in the area of building renovation. Refurbishing homes and buildings help save energy and also protect against extreme heat or cold. The European Union is sure that "nature [...] is a strong ally in the fight against climate change". One proposal here is the restoration of forests, soils, wetlands, and peatlands in Europe.
What exactly is Fit for 55?
The Fit for 55 package is the program that aims to achieve the goal of reducing greenhouse gas emissions by 55 percent by 2030 compared to 1990 levels. In this context, existing regulations are to be adapted and new legislative proposals are also to be made. European climate and energy policy will undergo major changes.
To establish the European Green Deal in the long term, a holistic approach is required. Above all, the international competitiveness of the European economy is to be strengthened by gaining a lead in green technologies. The EU Commission has worked on an action plan for financing a sustainable Europe to drive green investments, expand the circular economy and implement a zero-pollutant action plan.
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[1] cf. European Commission, Mitteilung der Kommission an das Europäische Parlament, den Rat, den Europäischen Wirtschafts- und Sozialausschuss und den Ausschuss der Regionen Empty, in: https://eur-lex.europa.eu/legal-content/DE/TXT/HTML/?uri=CELEX:52021DC0550&from=DE
[2] cf. European Commission, Umsetzung des europäischen Grünen Deals, in: https://ec.europa.eu/info/strategy/priorities-2019-2024/european-green-deal/delivering-european-green-deal_de
e-Mission GmbH Plattform, Basics ESG, in: Regulation and its impact - What are you facing in terms of regulation?