ICOS 2020 Science Conference, Day 1 opening words

1. Striving for Recovery and
Resilience
Climate Action under the European Green Deal
Artur Runge-Metzger, European Commission

2. MtCO2eq
MtCO2eq
Non-CO2 other
Non-CO2 Agriculture
Residential
Tertiary
Transport
Industry
Power
Carbon Removal Technologies
LULUCF
Net emissions
Different zero GHG pathways
lead to different levels of
remaining emissions and
absorption of GHG emissions
Climate neutral EU
= net zero of all greenhouse gas emissions by 2050

3. The European Green Deal: An economy-wide transition
The
European
Green
Deal
Mobilising industry
for a clean and circular economy
Preserving and restoring
ecosystems and biodiversity
From ‘Farm to Fork’: a fair,
healthy and environmentally
friendly food system
Building and renovating in an
energy and resource efficient way
Accelerating the shift to
sustainable and smart mobility
Increasing the EU’s Climate
ambition for 2030 and 2050
Supplying clean, affordable
and secure energy
A zero pollution ambition
for a toxic-free environment
A European
Climate Pact
The EU as a
global leader
Transforming the
EU’s economy for a
sustainable future
And leaving
no one behind
Designing a set of
deeply transformative policies

4. The European Green Deal: The new growth strategy
Caveat: This estimate does not take into account differences
in climate change damages, nor adaptation costs between
baseline and 1.5° C.
Development of GDP and greenhouse gas emissions,
1990 - 2050
• Modernising the EU's economy will
stimulate significant additional
investment:
1. Energy efficiency
2. Deployments of renewables
3. Clean, safe & connected mobility
4. Competitive industry and circular economy
5. Infrastructure and inter-connections
6. Bio-economy and natural carbon sinks
7. Tackle remaining emissions with carbon
capture and storage
• From 2% of EU GDP invested in
the energy system today to 2.8%
to achieve a net-zero greenhouse
gas emissions economy
• Positive for growth and jobs, with
GDP impact up to +2%
• Co-benefits: energy imports down,
public health, etc.

5. The European Green Deal: A just transition
• Overall economic impacts of the deep transformation are
positive.
• The transition will spur growth in new sectors. 'Green jobs'
already represent 4 million jobs in the EU.
• But some sectors will face challenges (e.g. coal mining and
fuel extraction) and others will transform (e.g. energy-
intensive industries and automotive sector).
• This will affect some regions more than others.
• Modernisation process has to be managed, so that no-one will
be left behind.
• EU budget, just transition mechanism, employment, cohesion
and agricultural policies have a role to play.
• New skills: Education, training and life-long learning are key

6. The European Green Deal:
Economy and society must adapt
• Global warming already
reached more than 1C
• 18 of the warmest years in
the last 2 decades
• Extreme heat waves in the
EU for 4 of the last 5 years
• Real impact on EU economy
& environment
• IPCC warns about global
eco-systems in danger
already at 2C
• Climate change undermines
security and prosperity in
the broadest sense

7. Recovery & Resilience Facility - € 672.5 bn
(€ 312.5 bn grants / € 360 bn loans)
InvestEU – € 5.6 bn
(guarantees)
Recovering from the Covid-19 crisis:
Next Generation EU - € 750 bn
REACT-EU - € 47.5 bn (mainly grants)
Just Transition Fund - € 10 bn (mainly grants)
I. Support to Member States (98.6 %) II. Others (1.4 %)
Horizon Europe - € 5 bn
(mainly grants)
Rural development - € 7.5 bn (mainly grants)
RescEU - € 1.9 bn (mainly grants)

8. Thank you
© European Union 2020
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