What you need to know about the European Green Deal – and what comes next

-The European Green Deal is to play an important role in the region’s COVID-19 recovery.

-The deal aims to cut carbon emissions, achieve economic growth not tied to resource use and ensure no one is left behind.

-The «Fit for 55» package of additional policies is expected to be announced on 14 July.

Nearly two years after the European Commission launched the European Green Deal in December 2019, the EU’s landscape has changed greatly, with the COVID-19 pandemic causing a contraction of the bloc’s GDP by 6.1% in 2020. Yet as countries continue their vaccination campaigns and focus on economic recovery, there’s hope that the region can rebound. The IMF projects that the Europe’s GDP could return to pre-pandemic levels by 2022.

The European Green Deal has the potential to play a key role not only in ensuring this recovery in the short term but also in addressing long-term climate change threats. The launch of the «Fit for 55» package this week is expected to mark an important step in overhauling climate policies and enabling the EU to deliver on its commitment to reduce emissions by 55% by 2030.

Here’s a look at the deal, what it has achieved so far and what to expect next.

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Πηγή: weforum.org

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