The EU Green Deal and circular economy action plan 2020

The European Green Deal is a set of policy initiatives launched by the European Commission to achieve the ambitious goal of making Europe climate neutral in 2050.

This deal had been brewing for a long and was approved on 15 January 2020 by the European Parliament in voting to support it. If the plan is finally successful, Europe will turn into the first neutral continent.

The goal of making Europe climate-neutral pretends to be achieved by the implementation of an action plan which boosts the efficient use of resources by moving to a clean, circular economy, and to restore biodiversity, and cut pollution.

More specifically, the deal establishes that for reaching the main objective, the following actions must be performed by all sectors of the European economy:

  • Investing in environmentally-friendly technologies.
  • Supporting industry to innovate.
  • Investing in the development and use of cleaner, cheaper and healthier forms of private and public transport.
  • Decarbonising the energy sector
  • Ensuring having more energy-efficient buildings.
  • Working with international partners to improve global environmental standards.

Moreover, the plan anticipates the need for investments and financing tools available to ensure a just and inclusive transition. In this regard, The EU will provide financial support and technical assistance to help those that are most affected by the move towards the green economy. This is called the Just Transition Mechanism and it will help mobilise at least 100 billion euros over the period 2021-2027 in the most affected regions.

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