To achieve a clean, just, and competitive transition, the European Union must implement a new Clean Industrial Deal that promotes decarbonization alongside sustainable growth and industrial development. Such a strategy should create the right conditions for green investment and tackle sector-specific issues head-on.
PARIS/BRUSSELS – The European Union positioned itself as the global front-runner on climate action five years ago, when it launched the European Green Deal. But building a sustainable economy is even more important now that the effects and costs of global warming are increasing. Moreover, the natural-gas crisis following Russia’s invasion of Ukraine has underscored the need to accelerate decarbonization to secure the bloc’s energy supply, lower its power costs, and foster social cohesion. What began as a climate agenda can now help the EU tackle its existential challenges.