Will Europe be the first climate neutral continent in the world? The European Green Deal (EGD) aims to punch the EU’s one-way ticket to meeting climate targets by 2030. While climate change is a global challenge, the European Union can be a leader in the transition toward a low-carbon economy. European countries need to act jointly to speed up the transition to a low-carbon economy and create a new economic model.
The European Green Deal is a plan to cut carbon emissions 40% and create more sustainability-focused jobs all over Europe. The European Commission has proposed a new “institutional framework for climate action” that aims to reduce greenhouse gas emissions by 55% by 2030, relative to 1990 levels. This initiative could be a turning point in the history of European Union policy-making on climate change.
The EGD is a roadmap for a modern and fair energy and climate policy for the future with an ambitious plan to move to a circular economy, where resources are constantly reused, recycled and renewed.
Below, we list the sustainability improvements we should expect over the next 8 years.
The transition to sustainable mobility will offer clean, accessible, and affordable transport to reduce greenhouse gas emissions and air pollution. Zero-emission vehicles and cleaner energy will lead the EU toward climate-neutrality by 2050, with hopes that the United States and China will follow with their reduction own initiatives.
The Green Deal will create more opportunities to create cleaner technologies, facilitate sustainable manufacturing, and innovative products. New legislation will require all businesses to identify and address policy changes requirements across their global supply chain. How can tech integrate itself into the fold? Software solutions can now foster quicker collaboration and communication with suppliers to effectively communicate ESG guidelines. As legislation continually changes, SaaS products will need to evolve to keep up with global supply chain requirements to avoid penalties.
The world has reached the carbon tipping point and the key to reversing climate change is to restore nature and enable biodiversity to thrive again. We know that Co2 emissions is the largest force driving species extinctions and creating an allyship with nature is one of our few solutions remaining.
Today, consumers expect organizations to act in good faith to support a sustainable economy that protects the well-being of our families and communities. Digitizing spend management will transform the way we anticipate change, maintain the integrity of our resources and partners, and advocate for the people who work in our communities.
The Fit for 55 package is a set of proposals to reduce greenhouse gas emissions by 55% by 2030. The infographic below details all parts of the legislation.
Driving positive change creates value. At Ivalua, we’re transforming digital spend management to accelerate supply chain sustainability and reduce global impact.
For another detailed and interactive summary, watch the #EUGreenDeal Video below:
Contributing writers from inside and outside Ivalua occasionally add items and information to this blog. We are a team who share an interest and curiosity about procurement and spend management.