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The Principles for Responsible Investment (PRI) also welcomed the Commission’s European Green Deal, which sets out the new Commission’s strategy for environmentally and socially sustainable economic growth.
The Commission said it covered all sectors of the economy, name-checking transport, energy, and buildings, and industries such as steel and cement.
A specific goal of the Green Deal is to make the EU climate-neutral by 2050, with the Commission pledging to present a bill by March next year to enshrine the objective into legislation. This was “to provide predictability for investors,” among other ends, it said. Other planned measures include putting forward a proposal for a carbon border tax, and a “circular economy action plan”.
The European Council has since endorsed the 2050 net-zero objective in a move that was hailed by investors.