The European Commission (COM) presented details of the European Green Deal earlier this week: https://ec.europa.eu/info/strategy/priorities-2019-2024/european-green-deal_en
The Main elements of this initiative will be:
• The COM will table a legislative proposal until March 2020
• CO2 - Emission reduction until 2030 should be increased to 50-55%
• A sustainable Europe Investment Plan with an amount of 1.000 bn EUR (!) should help to foster the investments necessary. This includes:
- the transition of the EIB into the EU Climate Bank with a share in sustainable investment of 50% until 2025.
- InvestEU should have a share in sustainable investment of at least 30%
- more EU budget sources should be dedicated to climate neutrality
• A Just Transition Fund (100 bn EUR) should help the regions mostly affected financed by EU Structural Funds and a prominent role for the EIB.
• A Strategy for Green Financing
• A Climate Pact including discussions with the Civil Society
• Developing of different strategies (mobility, bio-diversity, forests, chemical products)
• Integration of the UN Sustainable Development Goals (SDGs) into the European Semester
• Improvements for the Emission Trading System