Objectives of the EU Green Deal
The EU Green Deal has several core objectives aimed at transforming the European economy and making it more sustainable."
Climate neutrality by 2050
The main goal of the Green Deal is to reduce net greenhouse gas emissions to zero, making Europe the first climate-neutral continent.
Decoupling economic growth from resource use
The Green Deal aims to achieve economic growth without an increase in the use of natural resources. This means a shift to a circular economy where products and materials remain in use longer and waste is minimized.
Protection of biodiversity and ecosystems
Preserving and restoring biodiversity and ecosystems is an important part of the Green Deal. This includes measures to protect nature, improve the quality of water and air, and ensure the health of soil and seas.
Key initiatives and policies
Fit for 55 package
On July 14, 2021, the European Commission presented its so-called Fit for 55 package. This package contains several ambitious climate goals. The following climate goals describe a clear aim to achieve a green (and digital) transition by 2030, both in the EU as a whole and in the individual member states:
- reduction of greenhouse gas emissions by at least 55% by 2030 compared to 1990;
- a share of renewable energy in the energy mix of more than 32% by 2030;
- increase in energy efficiency by at least 32.5%.
The EU Green Deal includes a wide range of initiatives and policies aimed at various sectors of the economy:
Energy
Promotion of renewable energy sources and improvement of energy efficiency. This includes investments in wind and solar energy, as well as measures to make buildings more energy-efficient.
Industry
Support for the transition to a circular economy through recycling and reuse of materials. This also includes promoting innovation and the use of clean technologies in the industry.
Transport
Reduction of greenhouse gas emissions in the transport sector by promoting electric vehicles, improving public transport, and developing sustainable fuels.
Agriculture and food
Implementation of sustainable agricultural practices and reduction of the environmental impact of food production. This also includes measures to reduce food waste and ensure food security."
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Need fiscal advice on the EU Green Deal?
To future-proof business activities, we advise companies to implement clear and actionable transition strategies now. Our advisors have the expertise to guide the company through this process. We also gladly advise on the interaction between the various aspects of the European Green Deal and the Fit for 55 package, along with assessing any fiscal risks and exploring potential financing and incentive opportunities. Contact us for advice.
