For the European Union (EU) to achieve its ambitious climate goal – to be the first climate-neutral continent by 2050 – the role to be played by Industry cannot be underestimated. Yet initiatives by industrial sectors, such as the SEAM Program, need to be complemented by proactive policies and public investment packages.
Indeed, 2021 will be a crucial year for the European Green Deal, the overarching EU policy initiative for achieving the green transition. On 1 January, the EU’s EUR 1.8 trillion multiannual recovery budget entered into force. Beyond the EU’s seven-year budget for 2021-2027, the package also includes EUR 750 billion recovery fund, Next Generation EU. It is important to note that at least 37% of funding will be allocated to climate-related spending. Investments must also “do no significant harm” to the objectives of the European Green Deal.
Implementation of the European Green Deal will require major changes in the energy and transport sectors, as well as a significant push to renovate and retrofit buildings – all of which will require a great use of abrasive products. Having ambitious targets is a significant opportunity for the industry, and with the SEAM program European abrasives manufacturers show that the industry is taking the important steps in contributing to the green transition.