The European Union’s Green Deal, the largest environmental project of the current legislative period, aimed to make companies and consumers pay for environmental pollution. However, this ambitious plan has become more expensive than initially predicted. When launched by Ursula von der Leyen in 2019, the Green Deal was seen as a significant shift towards climate protection and innovation. But as protests from consumers and industries have grown stronger due to financial strain, it seems that the initial enthusiasm for this initiative has waned.
Despite the initial support for the Green Deal and the EU’s Climate Law aiming for climate neutrality by 2050, many obstacles have emerged. The agricultural and industrial sectors are pushing back against strict regulations, leading to a weakening of environmental standards. Additionally, the EU is struggling to meet its emissions reduction targets by 2030, requiring adjustments and compromises.
Disputes also arise over expanding emissions trading and pricing greenhouse gas emissions. The EU’s market-based approach to decarbonization has faced criticism for being too bureaucratic and costly. Furthermore, the competitiveness of European countries is at risk compared to nations like China and the USA that rely on subsidies for their climate policies. To level the playing field, the EU introduces CO2-Carbon Border Adjustment Mechanism that imposes import taxes on non-EU companies.
As debates over the Green Deal continue into the upcoming legislative period, it remains uncertain how this ambitious initiative will unfold amidst growing resistance and economic pressures. Even though once popular among voters, challenges may arise for political parties that champion climate change initiatives such as The Greens in upcoming elections.
The future of Europe’s approach towards climate policy remains unclear as economic pressures continue to mount while resistance grows stronger with each passing day.
