What is the EU Green Deal?

The European Commission launched the European Green Deal in 2019 to address the pressing environmental challenges faced by the European Union.

This ambitious initiative saw all 27 EU Member States commit to transforming the EU into the first climate-neutral continent by the year 2050.

The European Green Deal serves as a comprehensive blueprint for this monumental shift towards sustainability and environmental stewardship.

At its core, the European Green Deal comprises a series of policy initiatives crafted by the European Commission with the overarching goal of achieving climate neutrality within the European Union by 2050. This entails a thorough review of existing laws to assess their impact on climate issues and the introduction of new legislation across various sectors such as construction, biodiversity, energy, transport, and food production.

Currently, the European Commission is actively engaged in advancing key areas under the European Green Deal framework, including climate action, energy transition, environmental protection, sustainable agriculture, efficient transport systems, eco-friendly industrial practices, cutting-edge research and innovation, responsible financial strategies, regional development considerations, and the innovative concept of the New European Bauhaus.

More recently, the European Commission approved a comprehensive set of proposals known as the 'Fit for 55' legislation. This legislative package is designed to align the EU's climate, energy, transport, and taxation policies with the goal of reducing net greenhouse gas emissions by a minimum of 55% by the year 2030, as compared to the levels recorded in 1990.

By fully embracing these measures, the EU is taking proactive steps toward achieving its climate objectives within the next decade in a manner that is equitable, economically efficient, and fosters competitiveness on a global scale.

Through these concerted efforts, the European Union aims to lead the way in combatting climate change, fostering green growth, and promoting a more sustainable future for generations to come.

The European Green Deal stands as a testament to the EU's commitment to environmental preservation, economic prosperity, and societal well-being on a global scale.

Businesses in all sectors will play a crucial role in achieving these goals through compliance with the Corporate Sustainability Reporting Directive (CSRD), a corporate sustainability reporting framework that originates from the EU Green Deal that will transform the reporting practices of EU businesses.

Get a head start on understanding the CSRD and achieving CSRD compliance with our FREE CSRD Fundamentals course.