The outbreak of COVID-19 and the current crisis-management across Europe has highlighted the need to create more resilient and sustainable societies. Delivering the European Green Deal and tackling the climate-crisis will be critical for creating a climate-neutral and competitive future for Europe. The European Green Deal envisages investments of EUR 1 trillion in lowering emissions and circular economy with the aim to make the EU carbon-neutral by 2050. Achieving this transformative agenda cannot be done by policymakers and institutions alone; it requires strong collaboration between representatives from governments, industry and the business sector.
In responding to the need for further public-private action in this area, the World Economic Forum at its Annual Meeting in Davos in January 2020 brought together leaders from industry and business with Executive Vice-President Frans Timmermans to explore how to catalyse the European Green Deal. The meeting demonstrated significant interest from the private sector to mobilize a business coalition in the form of a CEO Action Group to spur action for Europe´s green transformation working in close coordination with the European Commission.
Supported by the World Economic Forum, the CEO Action Group for the European Green Deal will serve as a high-level platform for business leaders to support concrete plans and ideas to step up the game for climate positive action and ensure Europe’s leadership in delivering the European Green Deal as it evolves. The CEO Action group will also help promote sustainable practices within and beyond their own companies and industries and drive private sector investments for the green transition.