Euroviews. This is how to save the European Green Deal

The EU is a longstanding frontrunner in international efforts to keep global warming under 1.5 degrees Celsius. 

At COP28, the EU’s position was again crucial in setting the level of global ambition and the EU is now proposing to cut 90% of its emissions by 2040.

At the same time, a recent report found that the EU will likely miss the majority of its 2030 green objectives and far-right parties are gaining ground ahead of the European elections as voters and businesses worry about the cost of the transition. 

To keep up with its climate ambitions, five priority areas must urgently be put at the forefront of the European green agenda.

The EU’s commitment to more ambitious emissions reductions is facing societal pushback, evidenced most recently by farmer protests across the continent resulting from cost pressures and burdensome paperwork diverting resources from core business. 

Research also shows that the burden of decarbonising the economy falls heavily on low-income earners. 

Despite signs that renewable energy and insulation are providing protection against rising bills and inflation, there is growing antipathy towards the climate agenda which in turn contributes to a loss of trust in our institutions.

Vulnerable households cannot be expected to pay for the transition and policymakers must communicate a clear path to relieving cost pressures from the transition. 

This can be achieved by committing to targeted support for low-income households and highly exposed sectors, such as agriculture. 

Policymakers could draw inspiration from the example of Ireland, where carbon tax proceeds are used to support low-income households and where climate funds are insulated from political shifts.

It is difficult to speak about funding