"We need additional investments of 260 billion annually" – Repubblica.it

The roadmap: in one hundred days the climate law

In the official note of Brussels, we read that the new president intends to show "to the rest of the world our ability to be sustainable and competitive, we can convince other countries to move with us". Adds executive vice president Frans Timmermans: "We are experiencing a climatic and environmental emergency. The European Green Deal is an opportunity to improve the health and well-being of our fellow citizens, transforming our economic model".Anything but general indications, intentions, but oneroadmap with actions "to stimulate the efficient use of resources, thanks to the move to a circular and clean economy, halt climate change, end biodiversity loss and reduce pollution". The first deadline is indicated already within one hundred days: for March the Commission will present the first "European climate law", to follow the strategy on biodiversity for 2030, the new industrial strategy and the action plan on the circular economy, the strategy "From producer to consumer" for a sustainable food policy and proposals for a pollution-free Europe.

Investments: 260 billion annually are needed

On the investment front, to reach the targets by 2030 it is estimated that "additional annual investments of 260 billion, equal to about 1.5% of the 2018 GDP, will be needed, for which the mobilization of the public sectors will be necessary at the beginning of 2020 the Commission will present an investment plan for a sustainable Europe to help meet investment needs At least 25% of the EU's long-term budget should go towards climate action and the European Investment Bank, the European climate bank, will provide further support. To ensure that the private sector contributes to the financing of the ecological transition, in 2020 the Commission will present a green financing strategy ".To avoid having to compromise between environmental protection and work, something we are well aware of in Italy, we foresee "a mechanism for a just transition" that will be used to support regions that are highly dependent on carbon-intensive activities, helping the citizens most vulnerable to the transition, guaranteeing access to retraining programs and job opportunities in new economic sectors ".

The steps taken by this maxi-dozen now predict that the European Parliament and the European Council will approve "the ambitions of the Commission for the future economy and environment of Europe", giving their contribution "to the realization of these objectives. The Commission will present the measures announced in the Green Deal roadmap ".

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Topics:

EU Commission

Green New Deal

Environment

sustainability

Protagonists:

Ursula von der Leyen