Policymakers and the business sector in Europe will have to work closely together to achieve a climate-neutral continent by 2050. Recognising this, the World Economic Forum (WEF) has established the CEO Action Group for the European Green Deal, chaired by Thomas Buberl, CEO of AXA. It sits European Commission leaders next to industry bosses – online for now – in a group committed to implementing strategies that can deliver the multi-trillion euro actions needed to accelerate the transition to a sustainable Europe.
“We must all join forces in the fight against the virus and the climate crisis. No government or business can handle this alone – strong partnerships and deepened cooperation are needed. I therefore welcome the launch of the CEO Action Group to support the European Green Deal, which must be the compass for our recovery and for building a resilient and climate-neutral future for Europe,” said Svenja Schulze, Federal Minister of the Environment, Nature Conservation and Nuclear Safety of Germany.
We have a unique opportunity to build a greener and more resilient Europe through investment and innovation – Thomas Buberl.
Since the launch of the European Green Deal in December 2019 the world has been turned on its head by COVID-19. First and foremost the focus must be on protecting health workers, key workers and citizens. As lockdown measures ease though, ideas on how to sustain livelihoods and the wider economy will take centre stage. With a return to ‘business as usual’ being rightly dismissed, it is vital this once in a lifetime opportunity to reimagine how we do everything is not lost.
“The European Green Deal must become the cornerstone of Europe’s pandemic recovery. Rather than rebuilding the 20th-century economy, we must focus on spending stimulus money wisely and on preparing Europe for a competitive and inclusive 21st-century, climate-neutral future,” added Frans Timmermans, Executive Vice-President for the European Green Deal, European Commission.
To achieve carbon neutrality by 2050 the European Commission says a minimum of €1 trillion of investment will be needed by 2030, as well as €260 billion annually.
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