If we want to achieve that goal, we have to act now, we have to implement our policies now. Because we know that this transition needs a generational change,
...she said in her speech at the opening of the high-level event on 2 December.
As part of the European Green Deal, the Commission will deliver a Sustainable Europe Investment Plan – which will support one trillion euros of investment over the next decade, as part of the President's Strategy for a greener European future.
In order to achieve this, in March next year, the Commission will propose the first-ever European Climate Law to make the transition to climate neutrality irreversible.
This will include extending emission trading to all relevant sectors, clean, affordable and secure energy and the boosting of the circular economy. The European Green Deal will, among others, extend the Emissions Trading System to cover the maritime sector.
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The European Green Deal is Europe's new growth strategy, "seeking to cut emissions while also creating jobs and improving quality of life," and for this to occur, investment in research, innovation and green technologies is vital, she noted.
This transition must work for all or it will not work at all.
Meanwhile, a Just Transition Fund will leverage public and private money, including with the help of the European Investment Bank that has committed itself to become Europe's Climate Bank.
The European Union along with its officials are currently making their efforts to advance the green investments in Europe, by bringing to the table the idea of easing the EU banking rules.
We Europeans are ready. If we move together, we will also move faster, in everyone's interest. We will be as ambitious as we can throughout these COP negotiations. We are ready to contribute with our European Deal to a Global Green Deal.
The election of Ursula von der Leyen as new European Commission President made headlines in July, as she won the support of parliamentarians with a strong call for climate and environmental action that could transform Europe over the next five years.
Commenting on the European Green Deal, EEB Secretary General Jeremy Wates said:
It’s clear that the Green Deal will be a defining policy for the EU over the next five years, especially for younger people, who are demanding significant climate and environmental action. With Greta Thunberg warning that “our house is on fire”, the need for new levels of ambition in addressing the existential problems of our time could not be greater. The European Green Deal provides the opportunity to rise to that challenge and will be an early test for the Von der Leyen Commission.