EC announces European Green deal

Industry News | 11/12/19

The European Commission has announced its European Green Deal (EGD), its roadmap for a sustainable economy for the EU, which intends to become the world’s first climate-neutral continent by 2050. The EGD is presented as the EU’s new growth strategy, which will see emissions cut, create new jobs, and boost innovation across all sectors of the EU economy including transport, energy, and financial services.
The Commission has published a Communication setting out the key policies and measures needed to achieve the EGD, including a sustainable European investment plan to help meet investment needs, which it expects to produce in early 2020.
A renewed sustainable finance strategy, which will set out how the private sector will contribute to financing the green transition, is planned for the third quarter of 2020, and is expected to focus on strengthening the foundations for sustainable investment, increasing investment by making it easier for investors and companies to identify sustainable investments, and integrating climate and environmental risks into the financial system.