Greening Our Economy
For a Stronger and Sustainable Future
#EUdelivers
The European Green Deal (EGD) is about more than just going green.
It’s also about securing our prosperity and laying a foundation for the future.
Without the correct skills and tools, the EU risks being left behind with an outdated economy that fails to match its ambitions.
Future-proofing our economy
Green jobs and businesses – the backbone of the EU economy.
As we move into a greener, more sustainable world, employment in green industry will become crucial to boost competitiveness.
The environmental goods and services sector has been one of the most resilient during recent crises. It outperformed the wider economy over the last decade, representing 2.1% of total EU employment in 2010 and 2.5% in 2020.
This equates to 5.1 million jobs, mostly related to renewable energy, the drive for energy efficiency, and waste management. Through the EGD, this number is expected to increase further across all industries.
- Housing and construction: Greening these sectors, by making them less wasteful and more sustainable will mean more jobs and more innovation.
- Energy: Renewable sources have produced a new generation of engineers and innovators. The expansion of this sector will result in more future-proof jobs, all while cutting bills for people and companies across the board.
- Agriculture: Modern farming has sustainability and stability at its core. This will help ensure the long-term viability of the European agriculture sector, preserving our security and livelihoods.
- Manufacturing: Redirecting much of the industry towards green opportunities will safeguard jobs from future shocks.
A more circular economy is win-win
Tackling waste and creating a more circular economy, where reuse and recycle are the norm, will be key to our future prosperity and security.
Each EU citizen already produces on average 4.8 tonnes of waste, and most materials, together with the embedded energy and other resources used in their production, are too quickly discarded in our atmosphere, water and land.
By becoming a more circular economy, the EU can retain the value of materials for longer and bring about a wealth of opportunities for businesses and people.
It’s why the EU wants to reuse and recycle 60% of all municipal waste by 2030, which could see GDP increase by as much as 7%.
Recycling critical raw materials, like nickel, cobalt and lithium - which are mostly imported - will also increase the EU’s strategic autonomy and competitiveness, while boosting innovation and creating European jobs.
Nature’s economic support
Healthy ecosystems are essential for our economy and society. They provide fundamental services like water purification, carbon sequestration and pollination.
By degrading or losing these natural processes, we risk the loss of the millions of jobs and of businesses that are directly dependent on nature.
The economic value is so high, that in 2019 the estimated worth provided by ecosystem services in the EU amounted to €234 billion – a value comparable to the gross value added of agriculture and forestry combined.
By restoring degraded ecosystems, we could double nature’s contribution to the EU economy.
The EU’s Nature Restoration Law aims to put us on this path by protecting 30% of EU land and sea areas by 2030 and restoring degraded ecosystems for current and future generations to continue benefiting from.
Nature-Based Solutions are also among the most cost-efficient investments to mitigate and adapt to climate change. Investing in healthy and vibrant nature shields our economies from future threats, with benefits that far exceed the costs.
Nature is essential for our well-being and health. Nature is a gift to us that that will keep on giving – if we look after her. A healthy and thriving natural world will help us secure a liveable future for humanity.
Reduce pollution, boost the economy
Our economy depends on a clean and healthy environment. And pollution costs us dearly.
Every year, hundreds of thousands of Europeans die prematurely and many more suffer from serious illnesses caused by poor air quality, placing an economic burden on businesses and our health care services.
The costs of air pollution caused by Europe’s largest industrial plants are vast, averaging between €268 to €428 billion per year. Huge savings can be made if we act properly and reduce pollution levels further.
Investment in our future
Tackling these challenges means gaining the edge on our competitors. We need to make sure European businesses are more innovative and more competitive.
This requires investment and sustainable finance now and in the future.
It’s why the EU has pledged to mobilise at least €1 trillion in sustainable investments by 2030, funding the green technologies the world needs to kickstart crucial private investment.
These green technologies will help cut bills and reduce the cost of living for everyone.
By staying at the forefront of innovation, we can generate future-proof jobs for Europeans across all sectors, from AI and digital to manufacturing and modern farming.
The case for greening the economy is more compelling than ever!
#EUdelivers
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