Despite the awful weather and the approaching holidays, the atmosphere here in Brussels is buzzing as the new European Commission is expected to publish its European Green Deal on 11 December. The Green Deal is at the top of the new Commission President’s agenda that calls for a climate-neutral Europe by 2050.

Introducing sustainability in all policies and sectors, promising to draft a European Climate Law by March 2020, putting forward an action plan on green financing by June 2020, reaching climate neutrality by 2050, are all parts of the ambitious framework.

With change, comes uncertainty, yet it also presents opportunity. Besides pledging immense public funds, the Green Deal aims to attract private investment through green and sustainable financing. As a strategy, it introduces the idea of a Sustainable Europe Investment Plan, with the ambitious goal of €1 trillion of investment in the next decade.

In this framework, the proposal will also have its impacts on the European Investment Bank (EIB), as well, gradually turning it into a climate bank for Europe. Earlier this November, the EIB already made a decision on ceasing funding for fossil fuel projects at the end of 2021 and implementing a new financing strategy based on the issuance of green bonds.

The Commission also proposes a transition in the transportation sector, introducing sustainable and smart mobility by mid-2020, and creating opportunities in developing and creating alternative infrastructure and fuels. This train is definitely leaving the station and now is the time for companies to jump onboard.

So, what’s next? Following the Commission’s publishing of the Green Deal on 11 December 2019, MEPs at the European Parliament and members of the Council will also have their say on the proposal. Here, at B2EU Consulting, we are excited to see what opportunities the Green Deal will present for our clients.