Climate change and environmental degradation are an existential threat to Europe and the world. To overcome these challenges, the European Commission announced the European Green Deal in December 2019. The aim is to transform the EU into a modern, resource-efficient and competitive economy, ensuring:
no net emissions of greenhouse gases by 2050
economic growth decoupled from resource use
no person and no place left behind
How is it financed? The EU's long-term budget for the next seven years will provide support to the green transition. One third of the 1.8 trillion euro investments from the NextGenerationEU Recovery Plan, that will take us out of the Covid-19 pandemic, will finance the European Green Deal.
How is the European Green Deal progressing? The European Commission adopted in July 2021 a set of proposals to make the EU's climate, energy, transport and taxation policies fit for reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels. Some proposals have since then already been detailled as indicated by the links below. They are interconnected and combine the
a faster roll-out of low emission transport modes and
the infrastructure and fuels to support them;
an alignment of taxation policies with the European Green Deal objectives;
measures to prevent carbon leakage; and
The timeline of progress can be found here.