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The European Union is currently making significant strides to lead on green finance and align its financial system with its climate, sustainability and clean energy ambitions. To this end, the European Commission presented three legislative proposals on sustainable finance in May 2018.
The European Commission aims to push forward the concepts of ‘recycle, repair and re-use’ as well as waste avoidance. Two years after adopting the Circular Economy Package, EU institutions finally agreed on new EU waste rules.
At EU level, new proposed legislation for a clean-energy policy is being adopted. New policies are currently being discussed regarding the increased reduction of CO2 emissions, as well as EU-wide energy consumption targets for the year 2030 and national energy efficiency targets and measures to be derived from them. But what happens when the proposed objectives contradict and undermine each other?
The European Commission is taking serious steps towards realising the concepts of 'recycle, repair and re-use' and avoiding waste at all stages of the value chain with its EU circular economy package (December 2015). Besides setting new recycling and landfilling targets to enforce member states to climb up the waste hierarchy, the EU Commission also intends to harmonise the measuring of recycling and re-use rates in the European Union to make more transparent, how much is effectively recycled.