Circular economy deal agreed
The European Commission has adopted a new package to aid the EU’s transition to a circular economy, helping ensure resources are used in a more sustainable way.
According to Brussels, the deal will boost global competitiveness, foster sustainable economic growth and create new jobs. The plan is expected to assist businesses and consumers and help extract the maximum value and use from raw materials, products and waste. It’s hoped this will foster energy savings and reduce greenhouse gas emissions, realising benefits to the environment and the economy.
First Vice-President Frans Timmermans, responsible for sustainable development, said: “By rethinking the way we produce, work and buy we can generate new opportunities and create new jobs. With today’s package, we are delivering the comprehensive framework that will truly enable this change to happen.
“It sets a credible and ambitious path for better waste management in Europe with supportive actions that cover the full product cycle. This mix of smart regulation and incentives at EU level will help businesses and consumers, as well as national and local authorities, to drive this transformation.”
The proposals cover the full lifecycle of goods from production and consumption to waste management and the market for secondary raw materials. Financial support for the plan includes €5.5bn from the EU Structural Funds and €650m from Horizon 2020.
