Turning the European Green Deal into Reality
The European Green Deal, launched in response to the 2019 European Parliament elections, has become the world's most extensive set of laws for decarbonizing the economy. Despite challenges like the COVID-19 pandemic, geopolitical tensions, and economic competition, the Green Deal proves integral to unifying solutions. The 'Fit for 55' package and 'REPowerEU' strategy, aimed at phasing out Russian fossil fuels, are pivotal in reducing emissions and ensuring energy security. The report emphasizes the irreversible decarbonization trajectory and the need for comprehensive implementation to enhance European resilience, sovereignty, and societal benefits. The analysis, supported by Cambridge Econometrics, focuses on the transformative pace, energy security implications, direct benefits for citizens and businesses, and key drivers for successful implementation.