Identifying the levers of the transition for the EU 2024-2029 legislative term
- Jul 5, 2023
- 1 min read
The independent tripartite High Level Group on Financing Sustainability Transition met on 19 June 2023 to start taking stock of the European Green Deal initiatives since 2019, and to identify the levers of the transition for the next (2024-2029) EU legislative term. Members discussed the past regulatory reforms, the past carbon pricing reforms, and the redirection of capital (both public and private) towards the transition.
The HLG emphasized the need to complete the Green Deal with a new “Decarbonisation Deal” that will put a strong focus on transition finance, i.e. the necessary investments that contribute to decarbonisation in all activity sectors, yet which are not already aligned with the long-term EU climate objectives. The HLG also recommended a “decarbonisation fitness check” to ensure policy coherence in the full EU legislative acquis, a new “amber” taxonomy for activities with an intermediate level of environmental performance, and a completion of the carbon pricing framework in order to avoid carbon leakage and deindustrialisation down the value chain.
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The article discusses how the High Level Group’s work on EU transition priorities for the 2024–2029 legislative term focuses on identifying key “levers” that can help the European Union manage major structural changes over the coming years, including strengthening economic competitiveness, accelerating green and digital transitions, improving industrial policy, and ensuring long-term resilience in areas such as energy, innovation, and supply chains, while also emphasising the need for coordinated strategies between member states and institutions to address global challenges such as climate change, technological transformation, and geopolitical uncertainty. This focus on structured planning, coordination, and managing complex systems also connects to professional development pathways such as nvq site management, where learners develop practical skills in site coordination, health and safety…
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