EU can’t meet green global goals alone

SINCE the pandemic and the Ukraine war, the European Union has doubled down on the green economy to meet global goals such as those in the 2015 Paris climate agreement. However, it is increasingly clear that Brussels needs more help not just from the private sector, but also from the wider international community, to get close to success with this vital agenda for the world.

To be sure, the EU’s commitment to the green economy is substantial already, including the growing momentum behind the European Green Deal mega project. One example of this is the more than 50 major sustainability initiatives announced by Brussels since the signature policy agenda was announced by the European Commission.

In the first half of 2023 alone, these key announcements include the European Parliament and the European Council reaching a political agreement on the ReFuelEU Aviation proposal; and the European Council adopting key pieces of legislation delivering on the “Fit for 55” 2030 climate targets. The European Commission has also unveiled the Critical Raw Materials Act; set out new rules for renewable hydrogen; presented a Green Deal Industrial Plan to enhance the competitiveness of Europe’s net-zero industry and support the fast transition to climate neutrality; and proposed a 2030 zero-emissions target for new city buses and 90 per cent emissions reductions for new trucks by 2040.