European Green Deal
The EU Green Deal is the medium- and long-term framework to first achieve a 55% CO2 reduction in 2030 and to become CO2 neutral in 2050.
What do I need to know?
The European Green Deal is the European Union's response to the climate and environmental challenges that are the defining issues of this generation. It is a growth strategy that aims to transform the EU into a just and prosperous society with a modern, resource-efficient and competitive economy, where the environment and citizens' health are protected and economic growth is decoupled from fossil fuel consumption.
Net greenhouse gas emissions to be reduced by at least 55% by 2030, compared to 1990 levels. The EU to have zero net greenhouse gas emissions in 2050.
In response to the crisis COVID -19 the EU set up a recovery program, NextGenerationEU, with a fund of €1.8 trillion. About 1/3 of this money was allocated for the implementation of the Green Deal.
The Green Deal covers the following areas:
- Environment and oceans
- Finance and regional development
- Research and innovation
Why is it important?
The EU Green Deal is key because it is the main driver for the EU to change the economy, the way we do business and the way we live our lives towards environmental friendliness and sustainability.
Is it relevant for me?
The EU Green Deal brings both great business opportunities and compliance requirements. This means that your company must both build sustainability into strategic plans to comply with legislation. At the same time, it's also a great opportunity for your company to turn green transformation into an advantage for you.
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The Corporate Sustainability Reporting Directive expands the obligations and scope of sustainability reporting for EU companies.
The aim of this Directive is to promote sustainable and responsible corporate action and to anchor human rights and environmental aspects in the business activities and corporate governance of companies.