EU Green Deal: getting business to accelerate results

Yesterday the European Commission President unveiled the new Green Deal, a growth strategy to make Europe the first climate neutral continent by 2050, decoupling economic growth from resource use.

Newly elected Commission President Ursula von der Leyen presented the European Green Deal, declaring that it could boost innovation, quality of food, modern mobility, and create new business and markets. The Green Deal includes a roadmap of the key policies and measures required to achieve its vision. She reiterated that our growth model is “out of date and out of touch with our planet”.

Before COP26 in November 2020, the Commission will propose the first European “Climate Law” and provide greater detail on the road map for how to get there – “50 actions for 2050”. This is intended to support long-term planning, investment decisions and drive accountability.

The President emphasised that the Green Deal is an “opportunity for business to modernise and become more competitive”. It will encourage industry to develop new market-leading environmentally regenerative technologies and sustainable solutions, and provide a regulatory framework that unlocks investments, incentives innovation and mobilises sustainable finance.

Predictably polarised reactions

Within the European Commission the reaction to the announcement was brutally mixed, with an avalanche of polarised critics on both sides. While some called for much greater ambition and tempo, others criticised the potential impact the deal (drawn up in just 10 days!) could have on Europe.

The reactions to the announcement represent the divisive political situation faced by business, cities and citizens across the world. With that in mind, making the Green Deal a reality, will depend on building agreement – and quickly generating actions to deliver the impact required.

Europe Delivers: business consensus to drive action

Earlier this year, as part of Xynteo’s Europe Delivers initiative, we spent time with a diverse group of business leaders from across Europe. We gathered the perspectives of 27 CEOs and other senior leaders on how we can progress to unlock the new growth, described by Von der Leyen.

Those leaders recognised Europe as powerhouse of innovation, enterprise and entrepreneurship.

Based on the input from these leaders, Xynteo identified five ‘jobs to be done’ by business, to enable advancement towards an inclusive and regenerative growth model in Europe, while building competitiveness in an economic system undergoing deep change. The full details are in the Europe Delivers report: Unlocking Europe’s vibrant future – 5 jobs to be done

So, after the buzz around the President’s announcement, it’s time to deliver practical action. Time to unlock a vibrant future for Europe, based on a shared new understanding, and practice, of economic growth. With technology, capital and talent available to them, businesses must lead this shift, finding ways to bridge political divides and get us quickly to results.

Contact us to learn more about #EuropeDelivers and follow @Xynteo on Twitter and LinkedIn for more.

To read the official announcement on the Green Deal, along with an annex listing policies meant to turn the strategy into reality, and their expected timing click here: The European Green Deal & The European Green Deal Annex