1. In 2023, the EU forged new green alliances. Can you tell us about these international partnerships?
In 2023, the European Union made significant progress in expanding its green alliances, demonstrating its commitment to promoting a global transition toward a more sustainable economy. These new international partnerships, based on the European Green Deal, represent a vital bridge between the EU and other countries with similar environmental ambitions. In 2023, the alliance with Norway and Canada, and the partnership with South Korea, joined the existing Green Alliance with Japan and the Green Partnership with Morocco. These agreements are not just symbols of international cooperation; they translate into concrete actions through the exchange of knowledge, resources, and strategies to tackle global environmental challenges. Green alliances span various sectors, such as energy, food, mobility, and environmental restoration, highlighting the interdisciplinary and inclusive nature of the EU's approach to sustainability.
In the case of Japan and South Korea, the partnerships are supported by projects funded by the EU's Service for Foreign Policy Instruments (FPI), allocating 4 million euros each over 4 years to initiatives aimed at supporting the Green Alliance and Green Partnership. These funds are essential for fueling exchange and collaboration activities between the EU and its Asian partners. Besides facilitating exchanges between policymakers, the funding also encourages interaction with the private sector, stimulating investments and opportunities arising from a rapid transition toward a green economy. In this way, the EU's green alliances not only promote international cooperation but also act as catalysts for broader dialogue and closer collaboration in addressing common environmental challenges.
In the case of Morocco, the Green Partnership has helped increase political engagement and leverage additional investment funds. Since the partnership's launch, the EU has mobilized over 260 million euros in grants for investments in energy transition (including hydrogen), carbon pricing, sustainable agriculture and forestry, the circular economy, and industrial decarbonization. Furthermore, thanks to a Team Europe initiative, an additional approximately 4.8 billion euros will be mobilized to support this partnership. In summary, these green alliances and partnerships demonstrate the EU's commitment and leadership in the fight against climate change, with the hope that this will stimulate greater climate ambition globally.
2. Can EU businesses benefit from these collaborations to facilitate the green transition in third countries?
European businesses play a crucial role in promoting the green transition in third countries through their active participation in the EU's green alliances. These collaborations offer our companies fertile ground for exporting expertise, technologies, and sustainable services, thereby accelerating the transformation toward a low-carbon economy in partner countries. Joint collaboration in key sectors such as renewable energy, energy efficiency, sustainable agriculture, and green mobility not only stimulates innovation and competitiveness for EU companies but also contributes to the creation of new markets, trade opportunities, and jobs. Furthermore, these partnerships foster the development of solutions tailored to the specific needs of third countries, allowing European businesses to consolidate long-term relationships based on mutual trust and respect for common environmental values.
Our Green Partnership with Morocco is a clear example of this global commitment that is beneficial to both sides, where we join forces to manage common challenges and opportunities. The partnership shows how a serious global commitment to the green transition and sustainable development can produce significant economic, environmental, and social benefits. For example, the transition toward a cleaner and more competitive industry would allow for greater integration of value chains between Morocco and Europe, a sharp reduction in production costs in energy-intensive industrial sectors, and an opportunity for Morocco to position itself as an eco-responsible, competitive, and carbon-neutral partner.
3. How does disinformation affect climate policies and businesses?
The Global Risks Report 2024, drafted by the World Economic Forum, warns of the dangers related to disinformation in the current global landscape. According to the report, disinformation on climate issues is on the rise, and its greatest impact will be felt over the next two years; particularly relevant is climate denialism, a scientifically incorrect narrative according to which human-caused climate change does not exist. Climate denialism, in turn, fuels narratives aimed at discrediting or minimizing the efforts made by institutions to enable the green transition, supporting the maintenance of the status quo at the expense of effective climate policies.
It is also important to note that disinformation not only has a deleterious effect on public trust in the media and institutions but also compromises the ability of citizens to make informed decisions. As the 2024 European elections approach, climate disinformation will certainly carry weight in citizens' voting choices, risking damage to the work carried out under the European Green Deal, as well as the EU's goal of reaching climate neutrality by 2050. Climate change also implies significant risks for various industries, including the agricultural and energy sectors. The spread of climate disinformation can obscure these risks, leading businesses to make inadequate investment choices or to neglect necessary adaptation measures, resulting in financial losses and missed opportunities for innovation and sustainable growth.
For all these reasons, the European Commission is monitoring how fake news about climate change spreads, as well as its impact on the opinions and behavior of citizens and businesses. Furthermore, the Commission intends to strengthen policy tools, digital solutions, and communication efforts used in the fight against climate disinformation. To this end, the Commission is committed to ensuring compliance with the Digital Services Act (created to protect online consumers) and requires large social media companies to include respect for climate science in their code of conduct. Finally, recognizing disinformation as a growing social challenge and a threat to democratic systems, the European Commission is committed to collaborating with its international partners to combat this growing phenomenon.
4. In the context of climate change, what are the challenges for investments?
As indicated by the results of the first European Climate Risk Assessment (EUCRA), recently published by the European Environment Agency (EEA), the European Union is clearly unprepared for the consequences of climate change. These results highlight the necessity and urgency of substantial investments for the ecological transition and, specifically, adaptation to the climate crisis. Considerable investments will also be needed to achieve the goals of the European Green Deal, particularly the decarbonization of the economy, with estimates reaching approximately 520 billion euros per year until 2030, of which 92 billion is for boosting the production of net-zero technologies in Europe.
At the same time, EU governments are facing other challenges that require great economic efforts, such as inflation, the energy crisis, and safeguarding citizen security. Some of these factors have caused a staggering surge in business management costs recently, putting a strain on many European companies. For all these reasons, the willingness of governments and businesses to invest in the ecological transition is wavering.
To overcome these problems and preserve the attractiveness of green investments, the EU is moving on several fronts. One of the most significant moves in this regard was the launch of specific political and economic measures, such as the Green Deal Industrial Plan and the Net-Zero Industry Act. These initiatives aim to promote the decarbonization of our industries while supporting economic growth and creating "green jobs." These measures also aim to make Europe a global leader in clean technology manufacturing, countering growing competition from China and the United States in the sector.
In view of the upcoming European elections, the EU will need to keep public attention high on the necessity and urgency of accelerating investments for the ecological transition to safeguard the fulfillment of European and global climate goals. In this sense, it will be fundamental to convince governments, businesses, and citizens that the ecological transition can and must be an engine for economic growth and well-being for all.