Analytics, Ecology, EU – Baltic States, Modern EU

In fact, so-called “green transition mechanism” will includes about € 100 billion EU funds targeted to the most vulnerable in the environmental sense European regions and economy sectors. The EGD has a very broad roadmap, which also includes such issues as biodiversity and re-forestation, green agriculture and quality food, green cities and circular economy, to name just a few.

Communication on the key actions in the “Road Map” in:

https://ec.europa.eu/info/sites/info/files/european-green-deal-communication-annex-roadmap_en.pdf 

Private sector has seen already advantages in the “green deal”: in the beginning of December 2019, some fifty European largest investors, representing about € 6 trillion of assets, expressed their desire for a quick adoption of the EU-wide climate regulations aimed at European climate neutrality goal by 2050. Such a legal background would give corporate community solid confidence to make long-term investment decisions for modern sustainable growth patterns.

Each EU state has to find its own path to the “green future”, though the ultimate common goal must be unanimously approved: the “passive” states cannot get advances at the expense of the active ones. And that has to include a strong political will: all the EU member states have to change both the production and consumption schemes. However, if companies invest in clean technologies, they cannot face unfair competition from heavy polluters; a corresponding instrument is envisaged in the EU’s “carbon border adjustment mechanism”, which is in full compliance with the WTO rules.

Thus, the EGD is both about reducing emissions and a number of other “things”, e.g. like boosting innovation, food quality, reducing all sort of wastes and new “green businesses”. It is about turning the green transition into both green and business opportunities. Already at present there are numerous positive examples: e.g. converting plastic waste into furniture, farmers are using satellites data to adapt to climate change, “made in Europe” batteries for electric cars, and so on and so forth.

During the UN Climate Change conference in Madrid (COP-25), the European Investment Bank (EIB) has announced that it has invested €76.5 million in one of the largest solar projects in Spain, demonstrating its strong commitment in regards to the promotion of clean energy production in the country. The project is sponsored by Encavis AG, a leading independent producer of renewable energy, and Solarcentury, a global integrated solar power company, and comprises the construction and operation of a 300 MWp photovoltaic solar plant in the cohesion region of Extremadura; the transaction is supported by the European Fund for Strategic Investments, EFSI.

Reference: https://ec.europa.eu/commission/presscorner/detail/en/IP_19_6746 

The European Council promised to come back to this issue in June 2020, as the latest and during the next summit in March.

See more in the Council concluding statement at: https://www.politico.eu/article/eu-fails-to-find-unanimity-on-2050-climate-neutrality-goal/