By Pietro Cesaro

With the European green deal, a green beacon was lit at the heart of Europe — one that continues to invite member states (which serve as our vessels in this article) to reach 2050 with net greenhouse gas emissions of zero. In the meantime, on this long journey that had barely begun, the first great pandemic storm was swiftly encountered, along with the onset of an unprecedented economic crisis.

In response to these storms and socioeconomic upheavals, the Commission proposed a roadmap for reaching the green beacon of the green deal: a plan for Europe's recovery (the well-known recovery fund); approved not without difficulty by the European Council on 21 July (after 91 hours of negotiations). The European Parliament expressed several reservations on the matter, adopting a resolution highly critical of the way in which political leaders had drawn up the roadmap for reaching the green beacon of the green deal.

Recovery fund and climate: where do things stand

Although the recovery fund is substantial, and the entirely novel opportunity to create common European debt to finance the recovery represents a Copernican revolution for the Union, it is necessary to remember that the engines of the member states' vessels must become electric as soon as possible (and powered by renewable energy), and that the surrounding ocean must remain a functioning ecosystem.

The Copernican revolution must therefore go hand in hand with environmental priorities, otherwise we will all sink well before 2050. Looking at the recovery fund, there is no shortage of positive news. For instance, 30 per cent of it will have to be spent on climate-related objectives. However, there is also negative news: the just transition fund (jtf), specifically targeted at overcoming the chronic dependence on fossil fuels, drops from a proposed total of 40 billion to 17.5 billion.

In essence, the recovery plan honours some promises but not the strong need for greater ambition: not enough details have been provided to reach the green beacon of the green deal safely. Thirty per cent of the fund amounts to 547 billion, a quarter of what is needed to meet the 2030 climate targets (a reduction in emissions of between 50 and 55 per cent compared to pre-industrial levels); it is therefore necessary for the private sector to also come aboard the member states' vessels.

European Commission ✓ @EU_Commission

𝕏

We encourage EU countries to use swiftly the REACT-EU fund to ensure a green, digital and cohesive recovery from the #coronavirus.

This is part of the #NextGenerationEU recovery plan and aims at supporting healthcare, low-income families and more.

More: europa.eu/!wD69ry

♥ 162💬 7 30 lug 2020 · Apri su X →

Italy's recovery decree

Many things will now rest in the hands of member states and the ambition of their respective recovery decrees. The roadmap provided (that is, the recovery fund) is, as noted, not particularly clear, but it does offer a semblance of direction. Yet, taking a quick look at the Italian vessel, one notices that it has set sail without the proper sea trials. Italy's recovery decree, in fact, contains no bold, transformative policy capable of looking beyond the end of our nose — only a few incentives for sustainable mobility and the energy efficiency of buildings, and no measures that firmly discourage activities harmful to the environment; that is not how long and tortuous journeys are faced.

The green beacon of the green deal continues to shine with its own light; the recovery fund roadmap has at least been drawn up. It now falls to the ambition of the various member states to decide whether to sink one by one without transformative policies, or to reach clean shores rich in fauna and flora by 2050.

The opinions expressed in this article are those of the author and do not necessarily reflect the position of other organisations with which he is affiliated.