Europe’s €1 trillion “Green Deal”

The European Commission’s incoming President, Ursula von der Leyen, is planning to present European Green Deal legislation – to enshrine climate neutrality in EU law – at the next EU summit


Ursula von der Leyen: Sustainable Europe Investment Plan to raise €1 trillion – including €650 billion of private investment – over next decade

Frans Timmermans: Responsible for making EU emissions-free by 2050. Aims to increase EU’s carbon reduction target from 40% to 50% from 1990 levels

Valdis Dombrovskis: Tasked with transforming European Investment Bank (EIB) into climate bank and coordinating funding of first climate- neutral continent


Stop all EU funding of fossil fuels

Green bonds: European Central Bank to buy EIB bonds to fund low-carbon technology

Emissions (Million tonnes of CO2 equivalent, 2017, % change on 1990)
                                                  
Fossil fuel-dependent regions	Biggest polluters

Just Transition Fund: To ease pain in regions most affected by energy transfer. Poland says fund needs at least €10-20 billion annually


Germany		906.2 	-27.6%
UK 		470.5 	-40.8%
France 		464.6 	-15.2%
Italy 		427.7 	-17.4%
Poland 		413.8   -12.8% 
Spain		340.2 	+17.9%
Netherlands 	193.7 	-12.6%
Czechia		129.4 	-35.0%
(plus Poland)
Romania		113.8 	-54.1%
Hungary		63.8 	-31.9%
Estonia		20.9 	-48.3%
Rest of EU	779.8 	-20.2%
  
European Union	4,324.4 million tonnes	-23.5%


*€1 trillion = €1,000 billion
 

Sources: E3G, EEA, Finance Watch, Politico, Reuters 
Pictures: Associated Press 
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