Every year, the European economy becomes greener. The transition to a green economy is both difficult and money-consuming. However, Europeans long ago decided to focus on ecological issues and the health of their future generations.
Thus, to make the future greener, the European Union has significantly changed its ecological policy. European Commission President Ursula von der Leyen has announced new targets, including a cut of carbon emissions by at least 55% compared to 40% approved in 1990.
"I recognize that this increase from 40 to 55 is too much for some, and not enough for others [EU member states]. But our impact assessment clearly shows that our economy and industry can manage this," Ursula von der Leyen said.
The transition to a green economy is expected to take place up to 2030. However, analysts suppose that new rules may include a ban on the production of new cars with an internal combustion engine after 2030. At the moment, new standards have been adopted only at the national level.
Economists polled by Bloomberg believe that the new policy will allow more active borrowing through the issue of green bonds, as it could boost investors’ confidence in the intentions of the EU authorities.
