The EU needs a strong clean industrial deal

THE European Union positioned itself as the global front runner on climate action five years ago, when it launched the European Green Deal. But building a sustainable economy is even more important now that the effects and costs of global warming are increasing.

Moreover, the natural-gas crisis following Russia’s invasion of Ukraine has underscored the need to accelerate decarbonisation to secure the bloc’s energy supply, lower its power costs and foster social cohesion. What began as a climate agenda can now help the EU tackle its existential challenges.

To meet these goals, the EU must implement the Fit for 55 package, which calls for reducing greenhouse-gas (GHG) emissions by at least 55 per cent by 2030, and quickly adopt the proposed target of cutting GHG emissions by 90 per cent by 2040.