Renewed Transatlantic Partnership to Fight Climate Change | Opinion

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In December 2020, the European Union set itself an ambitious 2030 climate target to reduce greenhouse gas emissions by at least 55 percent compared to 1990 levels. The EU is simultaneously advancing the European Green Deal, which aims to stimulate economic growth following the COVID-19 induced economic crisis, while making progress toward its ambitious 2030 climate target.The European Green Deal is also designed to promote a circular economy, reduce pollutants in the air, soil, water and oceans and unlock investment for biodiversity conservation and healthy agriculture.It is increasingly understood that the answer to the economic crisis is to invest in a green economy. In the aftermath of the global financial crisis of 2008-09, sustainable investments were considered too expensive, even a luxury. But today's consensus is that a green economic recovery is both good for the economy and good for the planet.

In fact, we cannot afford not to mainstream sustainability and resilience into the COVID-19 recovery. That's why more than 30 percent of the EU's €750 billion recovery package is to be invested in climate protection and sustainability.While a significant shift in perspective took place, there is still some resistance. Critics ask what good are climate-neutral steel, green building more...