Delivering on the European Green Deal: A Private-Sector PerspectiveI N S I G H T R E P O R TJ A N U A R Y 2 0 2 4In collaboration with AccentureContentsCover image: cturtletrax, @Getty ImagesForewordExecutive summaryIntroductionThe role of the private sectorThe CEO Action Group for the European Green Deal1. From objectives to measurable targets1.1 Climate and energy1.2 Scope 3 emissions2. Emerging areas for additional efforts2.1 Collaborating towards a circular economy2.2 Biodiversity targets2.3 Sustainable water-resource management2.4 Transport decarbonization3. Spurring innovation for the green transition4. Enabling factors for accelerated action4.1 Affordable energy4.2 The regulatory and reporting environment4.3 Financing4.4 Skills5. Recommendations5.1 Improve forward guidance on regulations and standards5.2 Secure easier access to public financing5.3 Streamline permitting for renewable energy projects5.4 Refine the EU Taxonomy5.5 Promote education focused on market-ready skills5.6 Optimize energy taxation5.7 Ramp up the development of grid infrastructure5.8 Create a reliable voluntary carbon-trading mechanism6. The future role of the CEO Action GroupAppendicesContributorsEndnotes345557811131415161617202123242527282829292929303031333839© 2024 World Economic Forum. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system.Disclaimer This document is published by the World Economic Forum as a contribution to a project, insight area or interaction. The findings, interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent the views of the World Economic Forum, nor the entirety of its Members, Partners or other stakeholders.Delivering on the European Green Deal: A Private-Sector Perspective2ForewordIn 2019, the European Commission launched the most ambitious package of climate legislation ever seen. The European Green Deal – or EGD – straddles a vast range of business sectors and industries and is set to have a wide-ranging impact on the structure of our economies and societies, with the aim of making the European Union climate neutral by 2050. Since the EGD’s inception, the EU has made great strides on its climate pledges, all while navigating complex challenges ranging from a global pandemic to a full-scale war of aggression against a neighbouring country. With policy-makers, households and businesses grappling with elevated interest rates and price levels, the political foundation upon which the private sector’s climate action depends is weakening. As the continent continues to struggle to contain the rising societal and political backlash to climate legislation, and with European elections set for Ju...
