Climate change and environmental damage are an existential threat to Europe and the whole world. To tackle the challenges in Europe effectively, we need a new growth strategy that transforms the EU economy into a modern, resource-efficient and competitive economy where:
- greenhouse gas emissions will be reduced to zero net by 2050;
- economic growth is independent of resource use;
- everyone has a chance to make ends meet and there are no backward areas.
The European Green Agreement shows us the way how to make the economy sustainable in Europe. It will succeed only if we address climate and environmental challenges as opportunities in all policy areas and if we ensure that the economic transition is fair to all and does not lose out to the process.
The European Green Agreement outlines an action plan to:
- promoting the efficient use of resources through the transition to a clean, circular economy;
- restoring biodiversity and reducing pollution.
The plan identifies the investments required and the funding instruments available, and explains how to ensure that the transition is fair and inclusive.
The EU wants to be climate neutral by 2050. This political commitment is proposed to be made legally binding by the European Climate Regulation.
To meet the goal of climate neutrality, all sectors of the economy must act. The joint tasks are:
- investment in environmentally friendly technologies;
- promoting innovation among industry;
- introducing cleaner, cheaper and healthier forms of transport, both in
- private and public transport;
- decarbonisation of the energy sector;
- ensuring the energy efficiency of buildings;
- working with our international partners to improve global
- environmental standards.
The EU provides financial and technical support to those who face the greatest challenge in the transition to a green economy. The fair transition mechanism will mobilize at least € 100 billion over the period 2021-2027 to help the most affected regions.