It is a growth strategy that aims to transform the European Union economy into a sustainable economic model. It is a new growth model. It is a model that emerged after the Paris Climate Agreement. The one that was put forward in 2019 is an interstate consensus.
Specific targets have been set with the European Union Green Agreement. The European Union's greenhouse gas emissions will be neutralized by 2050. It is desired to make revisions without increasing the use of resources. No different resources have been allocated for the development of the green economy.
The Green Deal includes measures to ensure that nations already dependent on fossil fuels do not fall behind in the transition to renewable energy. It has been determined how to proceed with the European Union Green Agreement Investment Plan. It consists of two primary financing flows with a total amount of 1 trillion Euros. An EU budget guarantee is provided to enable investment and private investment in high-risk projects. In addition, the European Innovation Council has allocated a budget of 300 million Euros to invest in market-creating innovations that contribute to the goals of the European Union Green Deal.
The Just Transition Mechanism has been proposed to make the transition fairer, focusing on the regions and sectors most affected by the transformation. EUR 100 billion in funding for this mechanism has been provided by the EU budget and InvestEU programs. This fund is only valid for regions with high fossil fuel and carbon emissions.
Since 1990, greenhouse gas formation in the EU has been reduced by 25%. The European Union has set 2030 as the first target of the Green Deal. Reducing greenhouse gas emissions by 50 percent is the priority. In addition, the European Climate Law has started to contribute to achieving the Green Deal targets. European Union laws have begun to be reviewed for emission reduction targets. The Green Deal, the "Fit For 55" package, reveals the European Union's path to reach the target. A growth strategy has been established within the determined targets.
What Are the Eight Separate Policies Determined by the Green Deal?
Many applications and changes will be made within the eight separate titles that have been determined. These:
1. Climate,
2. Energy,
3. Agriculture,
4. Industry,
5. Environment and oceans,
6. Research,
7. Innovation,
8. Transportation and
9. It is finance.
The Effects of the European Union Green Deal on Trade and Economy
What are They?
European Union countries realize 16% of imports and exports. It has made the European Union the strongest in the world export market. With the European Green Agreement, the laws of the countries that are party to trade have also started to change. It has caused changes in international law. It had forced political effects in non-member countries.
Restrictions have been placed on exports to countries with high carbon emissions. They are subject to conditions on their sales. It is desired to reduce carbon emission areas, which is the priority rule. Sectors such as coal, textile, chemical, ceramics, and pulp were affected the most in the energy market.
As a result of individual investments, companies have started to reduce emissions in production and adapt to the new system. It has begun to cause high additional costs due to individual efforts.
What is Turkey's Place in the European Green Consensus?
The climate crisis and green transformation steps, which are gaining more and more importance on the world agenda, have begun to accelerate. The United Nations Sustainable Development Goals were included in the European Green Consensus to formations such as the Paris Agreement. With the participation in the European Green Deal, growth and transformation started to accelerate. Turkey has prepared legislation to keep up with this rapid change. The Ministry of Commerce is authorized to draft legislation. Several regulations have been prepared under the Green Reconciliation Action Plan.
What is the Green Reconciliation Action Plan Prepared by the Ministry of Commerce? What Does It Cover?
This plan has been prepared with the idea of including the concept of sustainability in the economy. It is aimed to turn risks into opportunities with the cooperation of the public, institutions, and private sector. Within the scope of the Action Plan realized in Turkey, nine main titles were determined. It includes 32 targets and 81 actions under nine main headings.
The identified titles and objectives are briefly as follows:
1. Carbon regulations limit emissions,
2. An economy based on green and circular trade has been built,
3. Green financing systems have been established,
4. In the field of energy, systems based on green-based renewable energy sources, which are referred to as clean energy, have been made,
5. Oriented toward sustainable agriculture,
6. Sustainable and innovative vehicles have been adopted and
7. R&D studies will be carried out to combat climate change.
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Çağın Ergün
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