Two years after the Paris Agreement, the EU is firmly in the lead in fighting climate change. To that end the Commission announced a series of initiatives for a modern and clean economy at the One Planet Summit.
The European Commission participated in the One Planet Summit, hosted by the French President Emmanuel Macron on 12 December 2017 in Paris, France. At the Summit, the Commission presented its new Action Plan for the Planet, which includes 10 transformative initiatives for a modern economy and a fair society. They are all reflected under the 10 political priorities of the Juncker Commission.
The Paris Agreement sends a clear signal to capital markets and investors - public and private – that the global transition to clean energy is here to stay. Recognising that the Paris Agreement is a key element for the modernisation of the European industry and economy the Commission sees it as an opportunity for EU businesses to maintain and exploit their first mover advantage when fostering renewable energy, energy efficiency, and competing on the development of the clean technology market globally.
The EU is leading by example and is creating an enabling environment that accelerates public and private investment in innovation and modernisation in all key sectors. We are making this transition to a modern and clean economy taking account of the differences in the energy mix and economic structures across the EU. Beyond updating and strengthening its energy and climate legislation, the EU aims at developing enabling measures that will stimulate investment, create jobs, empower and innovate industries and ensure that no citizen, worker or region is left behind in this process.
Ten Initiatives for a Modern and Clean Economy
- Putting the Financial Sector at the Service of the Climate
- EU External investment Plan - Opportunities for Africa and the EU Neighbourhood region
- Urban Investment Support for European Cities
- Clean Energy for Islands Initiative
- Structural Support Action for Coal and Carbon Intensive Regions
- European Youth for Climate Action
- Smart Finance for Smart Buildings Investment Facility
- EU Rulebook for Investment in Energy Performance of Buildings
- Investing in Clean Industrial Technologies
- Clean, Connected and Competitive Mobility
President Jean-Claude Juncker said: "The time has now come to raise our game and set all the wheels in motion — regulatory, financial and other — to enable us to meet the ambitious targets we have set ourselves. This is a necessity dictated by our current living conditions as well as those of future generations. This is the time that we must act together for the planet. Tomorrow will be too late."
Commissioner for Climate Action and Energy, Miguel Arias Cañete said: "The Paris Agreement is a global pledge to hand over a healthier planet to future generations. Now, the time has come to show we will honour this pledge. Europe's commitment to this Agreement is irreversible and non-negotiable. We played a leading role in brokering the deal exactly two years ago. And we continue to lead through ambitious, enabling climate policies and increased support the most vulnerable. From innovative green financing to new partnerships with other countries, investors, cities, states and regions and civil society, Europe is showing the way when it comes to turning the Paris Agreement into action."
For further information, please visit the relevant European Commission webpages at the links below.
See also the relevant BUILD UP Publication.