Europe’s Green New Deal and What Comes Next, By Teresa Belardo

LYFtv-Europe Date d'inscription : 24/04/2012

The EU’s Fit for 55 package marks an "import step in overhauling climate policies and enabling the EU to deliver on its commitments," says Teresa Belardo of the World Economic Forum.

Europe’s Green New Deal and What Comes Next, By Teresa Belardo World_11

Key points:

The European Green Deal has the potential to play a key role not only in ensuring a recovery in the short term but also in addressing long-term climate change threats.
The launch of the "Fit for 55" package marks an important step in overhauling climate policies and enabling the EU to deliver on its commitments.
Becoming the world’s first climate-neutral continent requires a change in government policies, business strategy and consumer behavior.
As the focus in the coming years must be on translating the European Green Deal into concrete initiatives, private sector leaders could become real agents of change for the bloc’s green transition.

Further details:

Nearly two years after the European Commission launched the European Green Deal in December 2019, the EU’s landscape has changed greatly, with the COVID-19 pandemic causing a contraction of the bloc’s GDP by 6.1% in 2020. Yet as countries continue their vaccination campaigns and focus on economic recovery, there’s hope that the region can rebound.

The European Green Deal has the potential to play a key role not only in ensuring this recovery in the short term but also in addressing long-term climate change threats. The launch of the "Fit for 55" package marks an important step in overhauling climate policies and enabling the EU to deliver on its commitment to reduce emissions by 55% by 2030.

What else needs to be done?

Becoming the world’s first climate-neutral continent requires a change in government policies, business strategy and consumer behavior.

The EU Next Generation Fund requirement to devote at least 37% of all national recovery and resilience plans to climate-positive initiatives represents a unique opportunity for governments to ensure a green recovery.

As the focus in the coming years must be on translating the European Green Deal into concrete initiatives, private sector leaders could become real agents of change for the bloc’s green transition.

The World Economic Forum’s community of the CEO Action Group for the European Green Deal serves as a platform for business leaders to support concrete plans and promote sustainable practices through lighthouse projects, a series of action-oriented and cross-sectoral initiatives aimed to tackle decarbonization in sectors as varied as food and agriculture, real estate, infrastructure and skills.

Consumers are also increasingly stepping up. According a recent survey, more than 70% of EU citizens expect their national governments and the EU to ramp up positive climate actions, and 96% said they would take one personal specific action to help reduce carbon emissions, be it recycling waste, reducing consumption of disposable items or changing dietary habits.

During her Special Address at the World Economic Forum Annual Meeting 2020, President of the European Commission Ursula Von Der Leyen, defined the European Green Deal as “Europe’s man on the moon moment.” The region has an important opportunity and obligation to come together to create sustainable, inclusive growth for current and future generations.