The European Union needs to develop a robust and compelling ‘business case’ for the European Green Deal during the upcoming political cycle. Without the participation of the private sector Europe will struggle to achieve climate neutrality by 2050.

This is one of the conclusions reached by the Centre for European Policy Studies (CEPS) in a report entitled: How will the EU thrive in a low-carbon world? Delivering the European Green Deal for a more competitive EU.

The report, sponsored by Europe Unlocked, makes 30 detailed recommendations in areas such as financing the transition, boosting the circular economy, and decarbonizing the energy system.

The report is intended to contribute with ideas for the new teams of politicians and policymakers who will take over the EU decision making reins in the autumn.

Decarbonisation objectives can be aligned with initiatives aimed at safeguarding the EU’s international competitiveness, the report states.  The green transition and strengthened EU competitiveness not only can but must go hand in hand. To achieve both, a focus on market-driven innovation and technology adoption is vital. Picking technology winners should be avoided, and policymakers should create the conditions for the most carbon and cost-efficient options to emerge in a competitive environment.

The report will be discussed this afternoon at an event hosted by CEPS. Yvon Slingenberg, Director for Strategy, Analysis & Planning, DG CLIMA, European Commission, Stefan Moritz, Secretary General, European Entrepreneurs CEA-PME and Irina Kustova, Research Fellow, CEPS will lead the debate, assisted by moderator Vasileios Rizos, Associate Senior Research Fellow CEPS.