The European Green Deal, Horizon Europe and CCUS Sample Clauses

The European Green Deal, Horizon Europe and CCUS. The European Green Deal presented by the European Commission in December 2019 is a response to the urgency in the climate and environmental-related challenges. Through this new European growth strategy, the EU aims to transform Europe into a continent where there are no net emissions of greenhouse gases in 2050, where economic growth is decoupled from resource use, and where no one is left behind. The full realisation of the European Green Deal will require the contribution of all EU actions and policies1. For Europe to deliver on the European Green Deal, there is a need to rethink policies for clean energy supply across the economy, industry, production and consumption. New strategies in areas like industry, energy system integration, hydrogen and biodiversity will support the European Green Deal. With the introduction of the first European ‘Climate Law’ (March 2020), all Member States will see the 2050 climate neutrality objective in legislation. Achieving a climate neutral and circular economy across Europe requires the full mobilisation of industry. Building on this, to be ready in 2050, decisions and actions on CO2 Capture, Storage and Use (CCUS) and other low-carbon technologies need to be taken in the next five years. Within priority areas like CCUS, energy storage and clean hydrogen, European industry needs forerunners to develop the first commercial applications of breakthrough technologies in key industrial sectors by 2030. Moreover, to achieve the European Green Deal goals, significant investment needs are necessary, and the mobilisation of both the public and private sector is required. Horizon Europe (2021-2027), an ambitious research and innovation programme to succeed Horizon 2020 (2014-2020), will be essential for Europe to maintain its competitive advantage in clean energy technologies. The EU needs to increase significantly demonstration of new technologies, building new innovative value chains. In Horizon Europe, at least 35% of the budget will fund research and innovation on new solutions that are relevant for implementing the European Green Deal. It will also play a pivotal role in leveraging national public and private investments.
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