Developing Strategies in line with EU's Green Deal Policies & Green Deal Consulting
The European Green Deal is a comprehensive sustainability strategy announced by the European Union on 11 December 2019 to achieve net zero greenhouse gas emissions by 2050. It was developed to combat climate change, promote the sustainable use of natural resources and transform the EU economy into a low-carbon and circular one. It includes new regulations and incentive mechanisms covering many sectors such as industry, energy, transport, agriculture and finance. The Green Deal introduces important obligations for EU member states as well as companies trading with the EU.
The Green Deal plays a critical role not only to ensure environmental sustainability, but also to drive economic transformation and establish new rules in international trade. The EU aims to reduce high-emission products and services and promote low-carbon production models in line with the goal of a carbon-neutral economy. In this direction, financial obligations such as taxes and border carbon regulations are introduced for sectors with high carbon emissions, while companies that adopt green production processes gain opportunities such as financing, incentives and competitive advantage in the market.
The 7 Main Strategic Focal Points of the European Green Deal
The Green Deal is implemented under seven key strategic pillars with the aim of achieving a sustainable economic transformation:
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1. Sustainable Industry and Circular Economy
Carbon neutral production, use of recyclable materials and increasing resource efficiency.
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2. Clean and Safe Energy Transition
Reducing fossil fuels, renewable energy investments and increasing energy efficiency.
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3. Sustainable Agriculture and Food
Reduction of chemical fertilisers and pesticides, promotion of organic farming and sustainable supply chains.
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4. Sustainable Transport and Smart Mobility
Electric and alternative fuel vehicles, development of public transport and low carbon transport solutions.
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5. Biodiversity Conservation
Protecting forests and ecosystems, increasing carbon sinks and restoring natural areas.
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6. Pollution Minimisation
Prevention of air, water and soil pollution, reduction of plastic and toxic waste.
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7. Sustainable Finance and Green Investments
Investments in line with ESG criteria, green financing mechanisms and compliance with the EU Taxonomy.
Which Sectors Are Forced to Change by the Green Deal?
The Green Deal directly affects carbon-intensive sectors. The sectors that will be most affected are:
Harmonisation with the Green Deal is being implemented gradually and some critical regulations have already entered into force. The Carbon Border Adjustment Mechanism (CBAM) has entered the reporting phase as of 2023, and financial obligations will be introduced when the transition process is completed.
What Should Companies Do to Comply with the Green Deal?
The main steps to be taken for companies to comply with the Green Deal are as follows:
1. Carbon Footprint and Emission Management
It is recommended that companies calculate and report their greenhouse gas emissions in accordance with international standards such as ISO 14064 and the GHG Protocol.
2. Low Carbon Production Processes
It is critical for companies to increase energy efficiency, invest in renewable energy sources and transition to carbon neutral technologies.
3. Sustainable Supply Chain Management
It is recommended that companies trading with the EU establish supply chain processes in line with circular economy principles. In this context, it would be beneficial for them to observe the sustainability criteria of their suppliers and take steps to reduce their carbon footprint.
4. Access to Green Finance
Securing financing for sustainable projects from EU and international funds will make it easier for companies to manage this transformation economically. Companies that comply with ESG criteria will gain advantages in terms of investment and financing.
5. Management of Compliance Processes
It is recommended to establish a corporate sustainability strategy to support integration into the legal and operational arrangements necessary to comply with EU legislation and Green Deal targets.
At Greenlife Consulting, we offer comprehensive support for your company to comply with the EU Green Deal and integrate its sustainability strategies into European regulations. We create roadmaps in critical areas such as reducing carbon emissions, adopting processes in line with circular economy principles and complying with the requirements of the Border Carbon Adjustment Mechanism (CBAM), and support your business to grow sustainably while maintaining its competitive advantage.
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