The EU strongly supports the transition to a low-carbon, sustainable and more resource-efficient economy. This support is part of the EU's efforts to achieve its climate and energy goals in line with the Paris Agreement and the UN 2030 Sustainable Development Goals.

Achieving climate, environmental and social sustainability goals requires significant private and public investments.

While the COVID-19 pandemic brought serious health, financial and economic challenges, the recovery has offered an opportunity to move forward better and more sustainably by strengthening public policies in favour of climate action, such as:

• carbon pricing
• discouraging environmentally harmful and economically inefficient subsidies
• transition to sustainable investments

As part of the EU's Next Generation EU recovery plan, 37 % of the Recovery and Resilience Facility totalling EUR 672.5 billion spends on climate-related goals. For the total amount of expenses from the long-term EU budget for 2021-2027 applies overall climate goal 30 %. (More on consilium.europa.eu)