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1、Delivering on the European Green Deal:A Private-Sector PerspectiveI N S I G H T R E P O R TJ A N U A R Y 2 0 2 4In collaboration with AccentureContentsCover image:cturtletrax,Getty ImagesForewordExecutive summaryIntroductionThe role of the private sectorThe CEO Action Group for the European Green De

2、al1.From objectives to measurable targets1.1 Climate and energy1.2 Scope 3 emissions2.Emerging areas for additional efforts2.1 Collaborating towards a circular economy2.2 Biodiversity targets2.3 Sustainable water-resource management2.4 Transport decarbonization3.Spurring innovation for the green tra

3、nsition4.Enabling factors for accelerated action4.1 Affordable energy4.2 The regulatory and reporting environment4.3 Financing4.4 Skills5.Recommendations5.1 Improve forward guidance on regulations and standards5.2 Secure easier access to public financing5.3 Streamline permitting for renewable energy

4、 projects5.4 Refine the EU Taxonomy5.5 Promote education focused on market-ready skills5.6 Optimize energy taxation5.7 Ramp up the development of grid infrastructure5.8 Create a reliable voluntary carbon-trading mechanism6.The future role of the CEO Action GroupAppendicesContributorsEndnotes34555781

5、1131415161617202123242527282829292929303031333839 2024 World Economic Forum.All rights reserved.No part of this publication may be reproduced or transmitted in any form or by any means,including photocopying and recording,or by any information storage and retrieval system.Disclaimer This document is

6、 published by the World Economic Forum as a contribution to a project,insight area or interaction.The findings,interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent

7、the views of the World Economic Forum,nor the entirety of its Members,Partners or other stakeholders.Delivering on the European Green Deal:A Private-Sector Perspective2ForewordIn 2019,the European Commission launched the most ambitious package of climate legislation ever seen.The European Green Deal

8、 or EGD straddles a vast range of business sectors and industries and is set to have a wide-ranging impact on the structure of our economies and societies,with the aim of making the European Union climate neutral by 2050.Since the EGDs inception,the EU has made great strides on its climate pledges,a

9、ll while navigating complex challenges ranging from a global pandemic to a full-scale war of aggression against a neighbouring country.With policy-makers,households and businesses grappling with elevated interest rates and price levels,the political foundation upon which the private sectors climate

10、action depends is weakening.As the continent continues to struggle to contain the rising societal and political backlash to climate legislation,and with European elections set for June 2024,the EU faces the risk of losing momentum on the climate transition,falling behind other leading regions and sl

11、ipping on its climate ambitions.Under these circumstances,we strongly believe that the private sector should take a clear and decisive leadership role in propelling the green agenda forward.The CEO Action Group for the European Green Deal,established in 2020,is a clear example of how private-sector

12、ambition is continuing to push towards the EU becoming climate neutral by 2050.This report,produced by the World Economic Forum in collaboration with Accenture ahead of the new European Commissions term,takes stock of private-sector efforts to align with,or even go beyond,the EGD objectives over the

13、 past four years,and considers where further action is needed.The findings in the report are used to formulate recommendations for EU and national governments but also to indicate where the private sector can support policy-makers to help maintain momentum for the green transition in Europe.Climate

14、neutrality in Europe cannot be achieved without sustained public-private collaboration and joint action.The CEO Action Group is committed to continuing to drive positive change in Europe and across its supply chains in the coming years.As it does so,it also strives to act as an inspiration for other

15、 companies at the beginning of their journey towards climate neutrality.Mirek Duek Managing Director World Economic ForumFeike Sijbesma Chairman of the Supervisory Board Royal PhilipsEster Baiget President and Chief Executive Officer NovozymesJean-Marc Ollagnier Chief Executive Officer Europe Accent

16、ureDelivering on the European Green Deal:A Private-Sector PerspectiveJanuary 2024Delivering on the European Green Deal:A Private-Sector Perspective3Executive summaryThe EUs bold ambitions,as outlined in the European Green Deal(EGD),require broad stakeholder participation.In particular,to drive effec

17、tive joint action,it is necessary to actively include the private sector in dialogue and strategy formulation to ensure these goals are met.Using examples and experiences from members of the World Economic Forums CEO Action Group for the European Green Deal,this report examines the actions undertake

18、n by member companies in various areas of the EGD,anchoring Group-specific insights in a broader market context.The analysis for this report is based on a set of more than 50 publicly disclosed metrics,a survey of companies alignment with the EGD,in-depth interviews conducted with members of the CEO

19、 Action Group and multiple online and offline feedback loops with the community.The analysis reveals that members of the CEO Action Group actively take action when it comes to meeting the goals of the EGD.In the fields of climate and energy,97%and 82%of the companies have set,respectively,measurable

20、 targets in these two categories,1 and the Group outperforms the European private sector in the field of R&D expenditure.On other areas of the EGD,including protecting biodiversity and increasing sustainable financing,companies are keen to do more but face challenges when taking measurable action.Th

21、e overarching issues identified by businesses are rooted in the complex nature of the EUs governing structure,including the dynamic between EU-set goals and national-level implementation,and in particular the regulatory environment.The proposed areas for intervention specific to the CEO Action Group

22、 are also reflected by broader market data on the EU private sector.To overcome these challenges,a collaborative effort from policy-makers,the private sector and,sometimes,third-party stakeholders is essential.For policy-makers,the priority should be creating a clear and consistent regulatory landsc

23、ape,providing forward guidance on targets and anticipated changes,and offering clarity when it comes to funding and permitting procedures.The private sector,on the other hand,should be allowed to innovate and direct investments to sustainable technologies and practices.This report looks at the enabl

24、ing factors that underpin continued progress towards climate neutrality.The findings have been used to formulate recommendations aimed at both national and European policy-makers,as well as the private sector.These recommendations cover:improving the predictability of sustainability reporting;improv

25、ing access to financing(including optimization of the EU taxonomy);streamlining permitting processes for renewable energy projects;cross-functional sustainability skills development;optimization of energy taxation;grid infrastructure development;and setting up a reliable voluntary carbon-trading mec

26、hanism.The CEO Action Group is a cross-sectoral community,spanning financial services firms,institutional investors and infrastructure,chemical and food and agricultural companies.The recommendations in this report are therefore aimed at supporting the broader private-sector environment in its effor

27、ts to make progress on climate neutrality.Closer public-private cooperation is needed to deliver on the European climate transition.Delivering on the European Green Deal:A Private-Sector Perspective4IntroductionThe role of the private sectorThe CEO Action Group for the European Green DealThe Europea

28、n Green Deal(EGD),while often primarily perceived through a sustainability lens,is fundamentally an economic strategy,designed to revitalize and transform the European economy by decoupling economic growth from resource depletion.However,the European Commission knows that it is not just about reduci

29、ng Europes carbon footprint or conserving resources;it is about fundamentally reshaping the economy to ensure long-term sustainability by harnessing low-emission technologies and bringing sustainable products and services to customers.The importance of the private sectors role in this transition can

30、not be overstated.It is currently responsible for more than 80%of greenhouse gas(GHG)emissions in the European Union(EU)and its transformation to net zero is therefore essential to reaching the Commissions climate ambitions.2 Companies play a vital role in achieving a sustainable future,not only thr

31、ough business decisions that affect their own operations but also by influencing stakeholders along the whole value chain suppliers,customers and employees and,“by developing environmentally sound solutions and offering more data about consumers daily choices,promoting sustainable practices within t

32、he communities in which they operate”.3 The shift to a green,digital and circular economy depends upon a significant economic transformation,one that is expected to create new industries and job opportunities and promote resilience against resource scarcity.Companies that lead the way can drive inno

33、vation,attract investments and create high-quality jobs,setting a model for others to follow.Within the EGD,various sectors and aspects of the economy for example,agriculture,energy,finance,innovation,research and transport are intertwined.This comprehensive approach requires that companies in all i

34、ndustries adapt to new business models,adopt a forward-thinking and agile approach and align their operations with the goals of the EGD.The level of private-sector ambition is high,as demonstrated by initiatives such as the CEO Action Group for the European Green Deal.However,the private sector face

35、s multiple challenges in adapting to this new vision of the European economy.These challenges include regulatory hurdles,market and economic uncertainties,a mismatch between demand and supply,legal complexities and increased administrative and compliance costs.4 Such obstacles can hinder the full re

36、alization of the private sectors potential in delivering the goals of the EGD.In response to the need for enhanced publicprivate cooperation to ensure a climate-neutral and competitive future for the European economy,the World Economic Forum at its Annual Meeting in Davos in 2020 brought together le

37、aders from industry and business with then Executive Vice-President of the European Commission Frans Timmermans to explore how the private sector could support the EGD.As a result,the Forum created a community in the form of the CEO Action Group for the European Green Deal,which serves as a high-lev

38、el platform for businesses to step up their work on climate-positive action and demonstrate their commitment to the EGD agenda.As of December 2023 the Group comprises 46 members from various industries,including finance,energy,retail,agriculture and investment management.These companies have an esti

39、mated combined contribution to the EUs GDP of approximately 0.8%and employ an estimated 1.2 million people across the continent,which corresponds to 0.6%of the European job market.5 They are responsible for 3.1%of total GHG emissions in the EU.6 The data available for 21 members of the CEO Action Gr

40、oup shows that in 2022 these companies spent more than$8 billion on research and development(R&D),equivalent to 2.5%of total EU expenditure in this area.7 A significant economic transformation is needed to achieve climate neutrality by 2050.Delivering on the European Green Deal:A Private-Sector Pers

41、pective5Essential data about the CEO Action Group members in the context of the EU economyFIGURE 1These numbers demonstrate that the CEO Action Group for the European Green Deal makes an important contribution in helping to achieve the objectives of the EGD,setting an example for other companies to

42、follow.By working together,these companies can help to create a climate-neutral and competitive future for Europe.125 billionannual EBITDA in 202210.8%EU GDPContribution in 20221.2 millionemployees in 202220.6%shareof job market in 202290 million tons CO2eqannual scope 1&2 emissions in 202233.1%shar

43、eof emissions in 20228 billionannual R&D spend in 202242.5%contributionto R&D spend in 2021/20225Notes:1 European earnings before interest,taxes,depreciation and amortization(EBITDA)estimate available for a subset of 27 companies;2 European employment estimate available for a subset of 35 companies;

44、3 European emissions estimate available for a subset of 27 companies;4 European R&D estimate available for a subset of 21 companies;5 Share of CEO Action Group R&D compared to 2021 aggregated Eurostat;data for EU as 2022 data is not available.Source:Calculations based on Capital IQ data and annual r

45、eports of selected CEO Action Group member companiesDelivering on the European Green Deal:A Private-Sector Perspective6From objectives to measurable targets1The introduction of the EGD has required businesses to reassess their business strategies to align with its objectives.Among the surveyed compa

46、nies,8 most required either significant or moderate adjustments to their commercial strategies9 and,as a result,these businesses now have strategic objectives that are in line with the EGD.In addition,the majority have accompanied their strategic objectives with measurable targets for reducing GHG e

47、missions and increasing the use of renewable energy in their operations.Of the analysed companies,97%and 82%have set,respectively,climate and energy targets.10 The clear and measurable targets that were put in place following the Paris Agreement have allowed companies to focus their efforts on these

48、 areas.Where such quantification is more complex,or where common definitions are lacking,this is reflected in lower levels of target-setting in private-sector strategies.As the EGD propels the continent towards a greener future,the private sectors understanding of sustainability must evolve in line

49、with that of the public sector,and vice versa.As companies continue to reduce the EUs carbon footprint and to transition to renewable-energy sources,more guidance is required in other aspects of the EGD beyond climate and energy.For example,the introduction of the nature restoration law11 is a clear

50、 step in the right direction and will help support more companies in aligning with all aspects of the EGD.Image credit:fokkebok,GettyImagesDelivering on the European Green Deal:A Private-Sector Perspective7The latest insights show that although global progress in reducing GHG emissions is insufficie

51、nt,nevertheless it remains a key priority for both EU policy-makers and the private sector.Globally,GHG emissions have been rising by 1.5%every year since 2011,12 and the heavy industrial and transport sectors that account for more than 40%of global GHG emissions are not aligned with the trajectory

52、of reaching net zero by 2050.13 In comparison,the EU has decreased its emissions by 1.4%per year since 2011,14 and the high priority assigned to reducing GHG emissions is reflected in the climate and energy areas of the European Green Deal where the objectives,strategies and targets of the CEO Actio

53、n Group are already aligned.European companies are leading the way in setting Scope 1 and 2 GHG emissions-reduction targets.Following the Paris Agreement,adopted by governments in 2015,the private sector has been setting GHG emissions-reduction targets that are approved by SBTi(the Science Based Tar

54、gets initiative;Figure 2).Those commitments are growing and have significantly picked up since the EGD was announced in 2019.The EU(442 companies)and the UK(340 companies)are leading the way,collectively covering 54%of companies with approved targets.15 Of the CEO Action Groups 33 publicly listed co

55、mpanies,97%have set 2030 interim targets and 79%have committed to reaching net zero no later than 2050.16 The numbers are lower for SBTi-approved targets,with 74%of the 33 companies either setting or committing to set such targets.Small and medium enterprises(SMEs),while currently not represented in

56、 the CEO Action Group,also play an important role in the green transition and have started setting targets;however,more needs to happen.17 1.1 Climate and energy05001,0001,5002,0002,5003,0003,5004,0004,500201520162017201820192020202120221162163325157501,1062,2534,230Companies commitingCompanies set

57、targets Annual cumulative number of companies with SBTi-approved targets and commitments,20152022 FIGURE 2Source:Science Based Targets,SBTi Monitoring Report 2022:Looking Back at 2022 and Moving Forward to 2023 and Beyond,August 2023:https:/sciencebasedtargets.org/resources/files/SBTiMonitoringRepor

58、t2022.pdfDelivering on the European Green Deal:A Private-Sector Perspective8CEO Action Group assessment framework strategic objectives and targets for selected EGD action areasFIGURE 3with data available for at least one assessmnet criterion%of companies that integrated at least one objective in the

59、ir strategies%of companies that set targets for at least one objectiveAction area Number of companiesStrategyTargetsClimate3397%100%Energy3382%100%Environment and oceans3370%97%Transport 3339%64%Industry3330%94%Research and innovation33N/A81%Finance and regional development 3348%82%Agriculture18188%

60、100%Source:World Economic Forum in collaboration with Accenture,analysis of a set of more than 50 publicly disclosed metrics forming an“Assessment Framework of Companies Alignment with the European Green Deal”Note:1 Subset of companies analysed in the Agriculture area is limited to Agriculture,Food&

61、Beverages industry and,therefore,is too small to be considered statistically significant.In recent years,the Groups efforts to increase energy efficiency and the use of renewable energy have been paying off,as evidenced by the Groups reduction in Scope 1 and 2 emissions,which have decreased by 26%si

62、nce 2019.This is largely driven by lower energy consumption,which decreased by 15%(Figure 4)combined with a higher uptake of renewable energy,which on average increased by 14 percentage points in share of total energy consumption(Figure 5).The higher uptake of renewable energy by the private sector

63、is paired with significant acceleration in the pace of renewable installations throughout Europe,which is supported by the RePowerEU plan.A total of 16 gigawatts(GW)of wind power and 41GW of solar power were installed in 2022,representing an increase of 46%and 47%respectively compared to 2021.18 Exe

64、cutives from the Group highlighted the importance of increasing low-carbon energy capacity further and point to a lack of infrastructure as one of the essential challenges in reaching the objectives linked to energy in the EGD.19 CEO Action Group aggregated energy consumption(TWh),20192022 FIGURE 4N

65、on-renewable energy consumptionShare of renewable energy(%)Renewable energy consumption02004006008001,0001,200201920202021202202%3%4%5%7%6%1%9284.0%807423946833771485.9%5.0%5.2%Source:World Economic Forum in collaboration with Accenture,analysis of a set of more than 50 publicly disclosed metrics fo

66、rming an“Assessment Framework of Companies Alignment with the European Green Deal”Note:TWh=terawatt hour.Delivering on the European Green Deal:A Private-Sector Perspective9CEO Action Group average share of renewable energy in total energy consumption(TWh),20192022 FIGURE 50%5%10%15%20%25%30%35%40%20

67、1920202021202221%27%31%35%Share of renewable energy(%)Source:World Economic Forum in collaboration with Accenture,analysis of a set of more than 50 publicly disclosed metrics forming an“Assessment Framework of Companies Alignment with the European Green Deal”In their 2022 manifesto,members of the CE

68、O Action Group highlighted the importance of accelerating Europes energy transition,including by speeding up hydrogen uptake across industries.20 As the energy sector makes up 77%of the EUs GHG emissions,21 this will be critical in further reducing the EUs carbon footprint.In this vein,energy compan

69、ies that are members of the CEO Action Group are actively investing in clean hydrogen and offshore wind energy to help the continent reach its renewable-energy target as well as energy storage capacity,which is crucial to avoid fossil fuel dependency.22 In addition,as electricity demand is increasin

70、g,to meet this demand,networks must grow accordingly.23Note:TWh=terawatt hour.Image credit:fotokostic,GettyImagesDelivering on the European Green Deal:A Private-Sector Perspective10CEO Action Group aggregated global GHG emissions(million Mt CO2eq),20192022FIGURE 605001,0001,5002,0002,500201920202021

71、20221,6451,5101,5841,6113962,0411,8481,9071,904338323293GHG emissions Scope 1&2 GHG emissions Scope 3 Note:Mt CO2eq=metric ton CO2 equivalent.Source:World Economic Forum in collaboration with Accenture,analysis of a set of more than 50 publicly disclosed metrics forming an“Assessment Framework of Co

72、mpanies Alignment with the European Green Deal”While most of the surveyed companies have implemented measures including compliance audits,training and codes of conduct,as well as collecting and sharing data with digital solutions to progress the harmonization of sustainability standards among suppli

73、ers25 they could take a more active role in driving the net-zero transition and building initiatives that support suppliers and consumers in making the necessary changes.This is particularly true in the agriculture industry,as the sector is one of the largest contributors to the EUs GHG emissions.26

74、 Farmers have been slow to adopt regenerative agriculture due to the costs of changing existing practices,lack of knowledge on regenerative practices and the misalignment of value-chain drivers(Box 1).27 Although this section highlights how the ambitions of the private sector are aligning with the P

75、aris Agreement targets and how European companies are paving the way,corporate climate action remains too slow,with major challenges persisting in scaling green technologies and infrastructure and measurable target-setting.While the CEO Action Groups Scope 1 and 2 GHG emissions and energy consumptio

76、n are gradually decreasing,reducing Scope 3 emissions remains an essential challenge.Since 2019 the Groups Scope 3 GHG emissions have remained stable(Figures 6 and 7).Scope 3 emissions are far more complex to reduce than Scope 1 and 2 and pose a risk to the feasibility of reaching the EGDs net-zero

77、target.24 Despite some companies making good progress in reducing Scope 3,both SMEs and large companies are facing obstacles in decarbonizing their value chains.Of the 33 analysed companies,seven have made substantial progress since 2019 in reducing their Scope 3 emissions(between 15%and 40%reductio

78、n in absolute GHG emissions)despite the aggregated emissions for the Group being stable.1.2 Scope 3 emissionsDelivering on the European Green Deal:A Private-Sector Perspective11CEO Action Group average GHG emissions and energy consumption intensity by revenue,20192022FIGURE 7060801001201404020201920

79、20202120221001001001151021128010093609167GHG emissions Scope 1 and 2 intensity per revenueGHG emissions Scope 3 intensity per revenue Energy consumption intensity per revenueNote:The GHG emissions and energy consumption intensity by revenue over 20192022 is presented as values indexed to 2019,where

80、2019=100.Source:Accenture and World Economic Forum analysis based on publicly available company reportsAccelerating progress towards EGD in agriculture BOX 1The agriculture industry is one of the largest contributors to the EUs GHG emissions.Farming practices contribute to the Scope 3 emissions of c

81、ompanies in the food system value chain.Yara,a fertilizer company,identified improving efficiency in the use of nitrogen as an essential decarbonization lever,as such usage accounts for 3060%of the total emissions-reduction potential of its mineral nitrogen fertilizers.28 Achieving this would requir

82、e changes in farming practices,so Yara focuses on optimizing farmers fertilizer use with digital solutions.However,this is not currently counted as a climate solution,even though the EGD aims to improve soil health and sets targets for the EU to limit nutrient losses by at least 50%.To overcome thes

83、e challenges,several companies in the agriculture,food and beverages industries are involved in initiatives that focus on helping farmers apply regenerative farming practices.A flagship initiative of the CEO Action Group,the European Carbon+Farming Coalition,is a farmer-centric initiative that aims

84、to accelerate progress towards EGD carbon-neutrality goals.In parallel,individual companies initiate action to increase the adoption of regenerative practices among farmers.29 Nestl,which has a target to source 50%of its key ingredients through regenerative methods by 2030,launched the Nestl Agricul

85、ture Framework in 2022.30 One of the guiding principles of the new framework is that it must be beneficial to farmers and tailored to smallholders needs.Where introducing regenerative agriculture practices generates initial risks or costs for smallholder farmers,Nestl stated that it may provide tech

86、nical(training and innovative technical solutions),collaborative or financial assistance to support a just transition.Delivering on the European Green Deal:A Private-Sector Perspective12Emerging areas for additional efforts 2Greater collaboration is needed on building circular-economy models,develop

87、ing biodiversity targets,managing water resources sustainably and decarbonizing transport.Image credit:Wannaludee Usanakul,GettyImagesDelivering on the European Green Deal:A Private-Sector Perspective13CEO Action Group Assessment framework selected strategic objectives and targets for environment an

88、d oceans action areaFIGURE 8As the generation of waste continues to increase and the scarcity of critical raw materials grows,implementing circular-economy models is a central objective of the EGD.The analysis conducted shows that the private sector is taking active steps to implement new business m

89、odels based on circularity,with 92%of analysed companies working to develop new business models and 46%setting measurable targets(revenue targets,for example).31 The recent political agreement reached on the Critical Raw Materials Act with agreed benchmarks specifying that the EU should have the cap

90、acity to extract 10%,process 40%and recycle 25%of its annual consumption of strategic raw materials by 2030 demonstrates the importance that EU policy-makers are placing on ensuring the sustainable use of materials and enhancing the continents strategic autonomy.32 To further support private-sector

91、alignment with these objectives,initiatives such as the Circular Economy Monitoring Framework are key.33 Interviews with CEO Action Group members revealed that there is potential for public-sector intervention to support circularity further throughout supply chains by supporting traceability practic

92、es.34 Moving towards circularity requires cooperation from all value-chain players rather than solely focusing on the actions of individual companies.For this to be effective,such efforts will require a complete redesign of existing business models and value-chain systems.The work led by Arup Group

93、is an example of this in practice,as the company put circular-economy principles at the heart of its 2019 strategy and is engaging multiple actors to define a new circular system for the built environment sector.35 By conducting interviews with their stakeholders,collaborating with BAM(a Dutch const

94、ruction company)to define value propositions,exploring policy options with policy-makers and entering into new forms of partnerships with clients and suppliers,Arup Group has demonstrated that circularity in buildings is a value-creating business model(for example,one of the new circular business mo

95、dels flexible spaces can improve financial performance by up to 18%over 12 years)and is one that can be replicated in other industries.2.1 Collaborating towards a circular economy Water management79%of companies have strategic objectives to improve water resource management58%of companies set measur

96、able targets in that domainCircularity92%of companies have strategic objectives to develop circular economy solutions46%of companies set measurable targets in that domainBiodiversity73%of companies have strategic objectives to minimize the impact on biodiversity15%of companies set measurable targets

97、 in that domainSource:World Economic Forum in collaboration with Accenture,analysis of a set of more than 50 publicly disclosed metrics forming an“Assessment Framework of Companies Alignment with the European Green Deal”Delivering on the European Green Deal:A Private-Sector Perspective14Challenge Ap

98、proach Results The surge in uptake of electric vehicles(EVs)will increase the demand for batteries,with timely electrification of mobility requiring rapid and massive growth in the supply of metals.It will be a struggle to source the amounts needed of critical raw materials such as nickel,cobalt and

99、 lithium.From a recycling-industry perspective,business will intensify,too:over the next decade increasing numbers of lithium-ion batteries from EVs will reach the end of their lives,and significant amounts of production scrap from cell and battery-pack manufacturing will be generated.The challenge

100、of securing sufficient volumes of metals is exacerbated by the synchronous need to lower the overall environmental impact of the metals supply chain.How well the electrification challenge will be mastered also depends on whether it will be possible to enable an efficient circular material model.The

101、recycling of production scrap and end-of-life batteries reclaims the valuable metals,which can be used again as building blocks for new cathode materials,the essential component of an EV battery.Circularity is essential to resolving the challenge,as it serves to ensure the supply of metals and lower

102、s the environmental footprint of battery raw materials considerably.Novel technologies to recycle EV batteries are available,have been validated and now need to be deployed at scale.Based on its extensive experience of recycling precious metals from very complex materials including electronic waste,

103、Umicore pioneered the industry by developing unique battery-recycling technology.In 2010 it invested in an industrial demo installation at its recycling plant near Antwerp,Belgium.Umicore combines a high-temperature treatment(pyrometallurgy),which melts the recyclables in a first process step,follow

104、ed by a refining process step(hydrometallurgy),which extracts the valuable metals and brings them back in their pure forms so they can be reused in the manufacture of new cathode materials.Umicore is now planning to further scale up its battery-recycling technology.Building a new battery-recycling i

105、ndustry is challenging not only from a technological point of view but also a business environment.Umicore is seeking to kick-start the battery-recycling industry,having spearheaded technology development and piloted a closed-loop business model,captively transforming recycled metals back into batte

106、ry materials.The EGD foresees rules to strengthen the measures to guide production waste and end-of-life batteries to recycling facilities.Decades of experience co-creating with automotive and consumer electronics original equipment manufacturers to design recyclability into their products is now be

107、ing transferred to the design of EV battery systems.To ensure transparency in circular metals supply,Umicore has established robust supply-chain due diligence processes and is contributing to the development of a battery passport,a global reporting framework to govern rules about measurement,auditin

108、g and reporting of ESG parameters across the battery value chain.CASE STUDY 1Umicore:Recycling batteries to enable eMobility Protecting biodiversity is a key factor for businesses today and,following the outcomes of the United Nations Biodiversity Conference(COP15)in 2022,is increasingly being refle

109、cted in the private sectors strategic objectives and measurable targets.Of the companies analysed for this report,73%have strategic objectives to minimize adverse impacts on biodiversity,48%have programmes to protect or restore habitats and 15%have set measurable targets in the domain of biodiversit

110、y.36 This discrepancy between strategic objectives and measurable targets can be attributed to an uneven understanding of the scope of biodiversity and the difficulties in quantifying the impact of industry on biodiversity.However,obstacles remain in setting measurable biodiversity targets,ranging f

111、rom a lack of corporate awareness to economic constraints and the complexity of supply chains.Measures to mitigate these challenges could start with supplier education,37 but for global companies,monitoring and ensuring biodiversity-friendly practices along entire supply chains can be challenging.Ad

112、ditionally,quantifying the impact of biodiversity initiatives and reporting them in a standardized manner is challenging because there are no commonly accepted or applicable external benchmarks and measurable targets in place to monitor the impact on biodiversity.38 Following the landmark agreement

113、on a set of goals to guide global action through to 2030 to halt and reverse nature loss agreed at the UN Biodiversity Conference(COP15),the private sector will have an essential role in contributing to the 30-by-30 target.39 As the European Parliament and Council continue working on the nature rest

114、oration law and revised rules for the sustainable use of pesticides,the interviewed executives in the Group called for more guidance from regulators,including measurable targets to support private-sector alignment with these goals.2.2 Biodiversity targetsDelivering on the European Green Deal:A Priva

115、te-Sector Perspective15In the European Commission Presidents 2023 State of the Union Address,and in the Commissions 2024 work programme,the EU announced its intention to put forward“a non-legislative initiative on water resilience,with the aim to ensure access to water for citizens,nature and the ec

116、onomy,while also tackling catastrophic flooding and water shortages”.40 The private sectors engagement in sustainable water management is as much a response to regulatory pressures as it is a matter of mitigating business risks.An analysis of CEO Action Group members reveals that 79%of companies hav

117、e incorporated strategic objectives into their commercial strategies to enhance water-resource management,41 indicating a growing recognition of its importance,and 58%of the companies analysed have established measurable targets in water management.42 This shift towards quantifiable goals is crucial

118、 for several reasons,as it allows companies to track progress and make informed decisions,and it demonstrates to stakeholders a commitment to transparency and accountability.This is a critical development,since water is a fundamental resource that affects nearly every aspect of business operations,f

119、rom manufacturing processes to supply-chain stability.Effective water management can also lead to significant cost savings,particularly for companies in water-intensive sectors.43 The potential savings companies can achieve through effective water management can vary widely depending on several fact

120、ors,including the nature of the industry,its location,current water usage and specific water-management strategies and solutions implemented(fixing leaks,installing water-efficient fixtures and recycling water,for example).Additionally,efficient water management may lead to energy savings,44 which,d

121、epending on the solution,might lead to noticeable savings over time.45 CEO Action Group members have harnessed these benefits,as is indicated by their collective 13%reduction in water withdrawal between 2020 and 2022.46 This reduction reflects a tangible outcome of the strategies and targets set by

122、companies and illustrates the potential impact the private sector can have on resource conservation and environmental sustainability.With the upcoming phasing out of internal combustion engines in the EU by 2035,47 the transition to electric vehicles(EVs)is increasingly important.Transport decarboni

123、zation is embedded in the strategies of 64%of the CEO Action Group companies,and 39%have set specific targets in that area.48 For the professional-services sector,the successful electrification of its fleets could remove as much as 40%of its emissions.49 A recent survey of 450 executives indicates t

124、hat 54%of them expect full fleet electrification to be achieved by 2030,and that 70%of fleets in Europe already comprise some fully battery-powered electric vehicles.50 Despite active efforts made by the private sector to increase the uptake of EVs in their operations,several challenges are impeding

125、 a complete roll-out of decarbonized transport.These include:1.High upfront cost and an unclear business case2.Difficulty in installing the necessary infrastructure3.Poor/insufficient public EV charging infrastructure51Infrastructure challenges have been echoed by executives interviewed for this rep

126、ort,who identified a potential for public-sector intervention,including a more complete EV charging infrastructure in urban as well as in rural and remote areas(having a charging station every 60100 kilometres)and investing in R&D to increase battery storage capacity to allow EVs to travel greater d

127、istances and shorten charging times.Infrastructure development was also flagged as a potential area for developing practical technical skills and reskilling the existing workforce.522.32.4Sustainable water-resource managementTransport decarbonizationDelivering on the European Green Deal:A Private-Se

128、ctor Perspective16Spurring innovation for the green transition 3Accelerating progress to reach climate neutrality requires an environment in which there are incentives to innovate,and solutions can be scaled to reach the market effectively.Image credit:Anton Zubchevskyi,GettyImagesDelivering on the

129、European Green Deal:A Private-Sector Perspective170%3%4%5%6%2019202020212%1%200120022003200420052006200720082009201020112012201320142015201620172018China European Union Japan South KoreaUnited States While innovation in the EU has been lagging other regions,including both North America and China(Fig

130、ure 9),some recent studies show that the gap has been closing.53 On an EU level,there is a target for R&D spending for national governments of 3%of GDP to be reached by 2030.54 The target was initially set for 2020,and before that for 2010,but most member countries failed to deliver on the set timel

131、ine.In 2020,the EU spent only 2.3%of its GDP on R&D,compared to 3.4%in the USA(Figure 9).R&D expenditures as a share of GDP,20012021 FIGURE 9Looking at the private sector,there is also a significant gap between European and North American companies expenditures as a percentage of revenue for R&D.If

132、European companies matched North American levels,they would have invested$388 billion more over the past five years.Even though the spending on R&D as a percentage of sales by the CEO Action Group members has decreased slightly during the past four years(a drop from 5.2%in 2019 to 4.8%in 2022),55 it

133、 is still relatively high when compared to the overall private sector in Europe,which spends,on average,2.2%of revenue on R&D.56 While members of the CEO Action Group clearly do not hold back spending on R&D,reaching the desired investment levels for innovation is challenging.Due to higher risk when

134、 investing in emerging technologies and the difficulty of scaling successful solutions to reach the market,developing solutions for financial risk-sharing could help bring up investment levels.57Source:Chart prepared based on Eurostat dataDelivering on the European Green Deal:A Private-Sector Perspe

135、ctive18Private-sector R&D expenditures as a share of revenue,20172022 FIGURE 10There are two clear drivers for the low investment levels in innovation in the EU:(1)a significantly higher regulatory burden compared to other developed markets;and(2)financing,including uncertainty regarding access to p

136、ublic funds and fragmented capital markets.58 Other important factors,such as the high cost of energy,skills and innovation partnerships,also contribute,playing into lagging innovation levels.The next section looks more closely at the enabling factors that could help accelerate the path to climate n

137、eutrality.2.0%3.5%4.0%3.0%2.5%North America Europe APAC2019201820172020202120223.0%2.3%2.1%3.1%2.3%2.2%3.3%2.5%2.2%3.8%2.8%2.3%3.5%2.4%2.4%3.6%2.2%2.0%Source:Accenture,Innovate or Fade:European Businesses Need to Address the Technology Deficit to Turn the Tide,July 2023:https:/ on the European Green

138、 Deal:A Private-Sector Perspective19Enabling factors for accelerated action 4While European businesses are on the right track towards climate neutrality,accelerated progress hinges on the enabling environment.Image credit:AvigatorPhotographer,GettyImagesDelivering on the European Green Deal:A Privat

139、e-Sector Perspective20The private sector is an essential actor in moving the EU towards climate neutrality,while also ensuring that the continent remains globally competitive and innovative.There are several indispensable enablers that underpin the ability to accelerate action towards climate neutra

140、lity for which a publicprivate approach could be used to spur progress.Since the start of the war in Ukraine,energy prices in the EU have doubled(Figure 11).59 High energy costs directly affect the competitiveness of companies and indirectly affect the availability of financing for productivity-enha

141、ncing investments,including for skills development and innovation.CEO Action Group members have specifically highlighted unstable markets and price volatility as a top economic challenge when delivering on EGD objectives.60 From a competitiveness perspective,securing affordable sources of energy is

142、therefore key.Energy taxation accounts for a large share of the final price that businesses and households pay.While the tax on energy is set by national governments something that increases the complexity of the European energy market the EU-wide energy taxation directive sets out to create incenti

143、ves for buyers to move to greener,more sustainable energy sources.61 The directive specifies minimum tax levels on all types of energy,ranging from transport and heating fuels to electricity.The Fit-for-55 package proposes a revision to increase taxation on fossil-fuel energy and include previously

144、excluded sectors such as aviation and maritime.62 However,progress on those discussions is stalling,as it is politically difficult to implement broad-based tax increases that will hit businesses and consumers.At the same time,because almost three-quarters of primary energy consumed in the EU still c

145、omes from fossil fuels(Figure 12),the availability of affordable renewable-energy sources becomes critical.If it is not feasible to scale renewable capacity fast enough,then a mechanism to offset the high cost of energy for production might be needed through incentives for businesses to ramp up rene

146、wable alternatives.While in the USA the Inflation Reduction Act(IRA)introduces significant tax credits for green investments instead of increased carbon taxation,the EU is proposing subsidies and to potentially loosen the criteria for state aid.63 In general,however,studies show that the electrifica

147、tion of the economy would be the cheapest solution to achieve Europes carbon-reduction objectives.Lowering taxation primarily on electricity is potentially a concrete way to accelerate the path to climate neutrality.64 Electricity taxation is on average about nine times higher in the EU than in the

148、USA,65 accounting for 3438%of the final price of electricity.66 In other words,a revision to energy taxation would facilitate the creation of incentives for further reductions to electricity costs together with other targeted investments to develop the electrical-grid infrastructure.Considering the

149、long-term nature of the energy transition,as well as the ongoing high usage of fossil-fuel energy in Europe,the question of voluntary carbon-trading mechanisms becomes critical to offsetting emissions,especially during the transition period.Emissions offsetting is especially important for industries

150、 in which emissions reductions are not technologically viable.However,the quality of the carbon credits issued in the voluntary markets has been disputed,based on the insufficient transparency of these markets and the lack of sufficient standards.67 Another important issue is that carbon markets can

151、 allow developing countries to advance their socioeconomic development,68 which is aligned with the EUs principle of ensuring a just transition.4.1 Affordable energy Delivering on the European Green Deal:A Private-Sector Perspective21Average six-month non-household energy prices in the EU(excluding

152、tax,/kWh)FIGURE 11Electricity Natural gas00.250.20.150.10.052019 H12019 H22018 H22020 H12020 H22021 H12021 H22022 H12022 H22023 H1Start of the conflict in UkraineSource:Eurostat data Note:H1=1st half of year;H2=2nd half of year.Primary energy consumption in the EU27 in 2022FIGURE 12Solar consumption

153、 Wind consumption Coal consumptionOil consumptionNuclear consumption Gas consumption Hydro consumption 12%39%21%10%7%3%3%5%18%of energy from renewablesOther renewables(including geothermal and biomass)Source:Our World in Data,“Primary Energy Consumption by Source,2022”:https:/ourworldindata.org/grap

154、her/primary-energy-source-bar Delivering on the European Green Deal:A Private-Sector Perspective22The EUs approach to standard-setting is based on promoting European values and a resilient,green and digital single market.While the strategy explicitly seeks to encourage innovation through“standardiza

155、tion activities and anticipating early standardization needs”,the reality for market participants is that they usually face legal complexities,red tape and high costs associated with administrative and compliance hurdles.70 The issue of regulatory complexity is not new and can,in part,be explained a

156、s a by-product of the complex structure of the EU,and of the implementation of EU policy falling on national governments,which makes progress uneven.Over the past 20 years,the private sector has called for a more harmonized and predictable regulatory environment,but the issue remains.71It is importa

157、nt,however,to distinguish what the root cause of the problem is.From interviews with CEO Action Group members it became clear that the standardization of sustainability regulation would be a positive development,as inconsistency between frameworks and standards is a clear challenge,resulting in a hi

158、gh reporting burden that directs funds away from core areas of the business,including spending on R&D.72One of the cornerstone directives of the EGD is the Corporate Sustainability Reporting Directive(CSRD),which entered into force on 5 January 2023.73 This directive unifies the rules on what social

159、 and environmental information companies have to report within the EU.Companies must evaluate how their actions affect people and the environment and how sustainability issues affect them financially.Starting from January 2024,large companies in the EU previously obliged to report under the Non-Fina

160、ncial Reporting Directive(NFRD)will have to comply with the CSRD.The reporting requirement will gradually be extended to other large companies and to SMEs by 2028.This move to unify standards is a positive one.However,the technical standards became available only in June 2023,and they are complex in

161、 nature and require a large number of compliance officers to know how to report on them.Because of the short period between the time when the standards were sent out for public consultation and their enforcement,companies are deeply concerned about the feasibility of being able to find people with t

162、he necessary skills quickly.Hence,there have been strong voices urging for a more gradual enforcement of the CSRD.74 The impact of European standard-setting on non-European companies and trading partners is another important factor.The International Monetary Fund(IMF)noted in its last Euro Area Arti

163、cle IV report that EU“authorities should resist calls to use such tools to provide a competitive advantage to domestic industries”,75 something being echoed by companies in the CEO Action Group.Non-European companies in the Group emphasize the need for a value-chain perspective when implementing new

164、 policies,ensuring that important partner countries are well equipped to remain part of EU value chains.For example,the EUs Carbon Border Adjustment Mechanism(CBAM)aims to place a fair price on the carbon emitted during the production of carbon-intensive goods entering the EU and to encourage cleane

165、r industrial production in non-EU countries.CEO Action Group members have raised concerns that its potential impact remains unclear and that it could lead to cost-push inflation,and are urging the EU to act with caution.76 For the private sector,including large as well as small companies,the best so

166、lution would be to have an even playing field when it comes to reporting requirements.Harmonizing standards within Europe is a first step for which careful guidance and adequate time for enforcement is needed.But even more important is to agree on a global set of sustainability standards.Maintaining

167、 and accelerating current efforts to harmonize global standards would therefore allow companies to focus on innovation.In addition,reaching climate neutrality requires bold actions that will transform European industry and the European economy,but it is also crucial that such actions are implemented

168、 with caution and that adequate time is given to gauge the full results of the many recent legislative proposals.4.2 The regulatory and reporting environment“The EUs ambitions towards a climate-neutral,circular,digital and resilient economy cannot be delivered without European standards.”European Co

169、mmission in its 2023 Annual Single Market Report69Delivering on the European Green Deal:A Private-Sector Perspective23The European Commission has committed to mobilizing at least 1 trillion for sustainable investments through its European Green Deal Investment Plan(EGDIP).Allocating additional funds

170、 to support the EGD objectives was expected to attract private funding.While the value of clean-energy investments in the EU reached 220 billion in 2021,78 this is far from the estimated need of 620 billion annually to meet the EGDs objectives.79 The EGDIP allows for the relaxation of state-aid rule

171、s,including permitting member states to grant subsidies or tax incentives to match what is being offered by other countries.The main vehicle for facilitating private investments linked to the EGDIP is the InvestEU Programme,which uses public funds and guarantees to reduce the costs and risks for pri

172、vate investors willing to invest in net-zero technologies.80 CEO Action Group companies also see potential for the EU to create incentives for financing institutions in a way that will lead to lower green premiums and thus drive the supply of green financing higher.81 A method for sustainability-pro

173、ofing investments will progressively integrate the technical-screening criteria of the EU taxonomy.Even though more capital is being made available for green investments across EU countries,businesses throughout Europe still see permitting and funding procedures as bottlenecks for investments.In som

174、e member states,permitting processes for renewable energy projects can take up to 710 years 82The main concern,according to surveyed CEO Action Group members,relates to public funding,namely“complex application processes and long approval timelines”,while for private funding it is a“lack of a clear

175、framework for investors to evaluate financial materiality of climate-and nature-related risks”.83 They also point to the fact that simplifying the funding procedures for SMEs is vital,and creating innovative funding structures tailored to SMEs represents a pivotal step towards encouraging their tran

176、sformation.84 The CEO Action Group members also see greater potential in allocating revenues generated by solutions such as Emissions Trading Systems(ETS)and CBAM directly to support green and digital transformation initiatives.85There are additional challenges linked to the importance of the EU tax

177、onomy,the cornerstone of the EUs sustainable finance framework.The taxonomy was created to set a common definition of economic activities that can be considered environmentally sustainable for financial and non-financial companies.As part of this work at an EU level,a list of environmentally sustain

178、able activities was defined.86 If activities are not part of the taxonomy as is the case with biotech solutions,for example this can directly constrain or even prevent financing by financial institutions.Beyond eligibility,the strict alignment criteria of the EU taxonomy can further limit the suppor

179、t of transitional investments.Looking at the CEO Action Group,among 16 companies that have eligible capital expenditure,only six report more than 50%of that eligible investment activity as taxonomy-aligned.This challenge was further highlighted in a case study conducted by four European Green Buildi

180、ng Councils and 23 financial and real-estate organizations.Out of 62 buildings analysed in the study,only one was rated as fully EU taxonomy-aligned,although 41%of the analysed buildings were either sustainably certified assets or were in the process of obtaining such certification.87 This means tha

181、t companies can have investments that fulfil climate,water-resource management,circular economy,pollution prevention and biodiversity objectives,but only part of these investments would meet the strict criteria of the EU taxonomy.The strict application of the taxonomy criteria raises questions about

182、 the efficient financing(or availability of investments)of emerging technologies to support the climate transition.4.3 Financing“Additional investments of over EUR 620 billion annually will be needed to meet the objectives of the Green Deal and RepowerEU.By far the greatest part of these will have t

183、o come from private funding.”European Commission in its 2023 Annual Single Market Report77Explainer:EU taxonomy-eligible and aligned business activitiesBOX 2EU taxonomy-eligible economic activityTaxonomy eligibility defines only that an activity is within the scope of the taxonomy,irrespective of wh

184、ether that economic activity meets any or all the technical screening criteria.So far,eligible activities have been decided for two of the objectives climate change mitigation and climate change adaptation and a list for the other four objectives will be finalized in the future.EU taxonomy-aligned e

185、conomic activity Taxonomy alignment defines that eligible activities meet the technical screening criteria to substantially contribute to at least one of the taxonomys six objectives,do not significantly harm any other objective and meet the minimum safeguards.88Delivering on the European Green Deal

186、:A Private-Sector Perspective24The EGDs ambitious targets hinge on the development of green jobs and green skills.89 The International Energy Agency(IEA)has estimated that 30 million new jobs will be created for the green transition,while 13 million jobs in fossil-fuel-related industries are at risk

187、.90 In order to ensure parts of the labour force are not left behind,it will be essential to facilitate a smooth transition between jobs.The European Skills Agenda,launched in 2020 to support sustainable competitiveness,social fairness and resilience,aims to ensure that people have the necessary ski

188、lls to thrive in the labour market.91 One of the dozen of actions included in the agenda covers skills to support the twin transition,acknowledging that green and digital skills must be tackled jointly to build a future-proof workforce.Up to now,the skills that companies have been building to delive

189、r on the EGD objectives are primarily linked to low-carbon and renewable-energy sources and companies net-zero strategies.92 This may not come as a surprise as this finding aligns with the current focus on climate and energy targets.Skills linked to environmental,social and governance(ESG)reporting

190、are also at the forefront of companies priorities.The World Economic Forums Future of Jobs report93 shows that the hiring rate for green skills now outpaces overall hiring rates.Some companies are already looking beyond their current needs and considering developing skills for green IT and sustainab

191、le education.94 Members of the CEO Action Group are acutely aware of the skills dilemma,and many of them have built programmes for green skills some even complement these programmes with specific metrics to measure the progress on skills development or plan to implement such metrics within the next

192、one to two years 95 Furthermore,there is a misalignment between investments in technology and investments in peoples skills.While companies plan investments in technology modernizing manufacturing plants,for example they do not always anticipate the talent,specific green jobs and skills required to

193、manage that technology,often facing shortages when it comes to the staffing process.96 Research by ManpowerGroup shows that the talent scarcity has grown to 77%four out of five employers globally are struggling to find the talent they need.In EU member states this percentage falls to between 66%(Cze

194、ch Republic)and 86%(Germany).97Since demand for green skills is strong,the supply of workers with the right skills becomes contingent on high-quality upskilling and reskilling programmes.The main obstacle facing companies is the shortage of talent with proficiency in both green and financial skills.

195、The second observation is that the balance between formal and informal education,including vocational training,affects workers readiness to deal with fast-paced changed in green transformation.98 Collaboration between the private and public sectors is necessary to develop educational programmes fit

196、for the sustainable future the EGD envisions.Executives have highlighted specific challenged that need to be overcome;for example,a lack of cross-functional,compound skills,including green finance and green digital competences.99 This mismatch between labour demand and currently available skills,and

197、 between private-sector expectations and the focus of the education system,calls for multisectoral efforts to equip the workforce with a more comprehensive and diverse green-skills portfolio.4.4 Skills Image credit:Eloi_Omella,GettyImagesDelivering on the European Green Deal:A Private-Sector Perspec

198、tive25Challenge Approach Results The green transition drives demand for millions of new roles,and competition for green talent is expected to escalate.The percentage of managers looking for employees with green skills is as high as 81%in the energy and utilities sector and 73%in transport,logistics

199、and automotive.Offering upskilling in a certain field helps meet market expectations and drive progress towards the European Commissions goal of having a skilled workforce to support the EGD.The key is an effective partnership.ManpowerGroup with expert knowledge of the labour market and workforce tr

200、ends collaborates with InnoEnergys Skills Institute,which offers flexible training that includes online courses and a combination of virtual and in-person lab experiences.102 The partnership will provide virtual and in-person training for 70 in-demand roles including battery technicians,electric veh

201、icle(EV)charger maintenance operators,production engineers and others.The initiative was launched in October 2023.ManpowerGroup and EIT InnoEnergy plan to train and upskill 800,000 workers in the battery value chain across Europe by the end of 2025.The target is to build a pipeline of skilled talent

202、 that will support Europes transition to a net-zero future.CASE STUDY 2Net-zero future accelerated by upskilling Stakeholder engagement for the green transitionBOX 3Engaging different communities is vital as Europe moves towards climate neutrality.Within the CEO Action Group,engagement takes the for

203、m of not only collaboration with others to spur innovation but also engagement with the communities affected by business operations.Based on the surveyed companies in the CEO Action Group,these organizations achieve stakeholder engagement through existing or newly formed partnerships with industrial

204、 clusters,start-ups or innovation hubs,the public sector,academies,non-governmental organizations and civil societies.100 Such collaborations are seen as clearly supporting companies to advance the EGD objectives.For example,Mastercards City Possible partnership with HSBC is bringing the two compani

205、es collective resources and expertise together to connect and enable local and regional leaders to take action on climate change and promote inclusive economic development.The two are initially focusing on greater interaction between business clients and government entities to drive innovation and s

206、pur demand for green financing for sustainable-infrastructure projects in net-zero cities across the world.HSBC has also partnered with a diverse group of academic and industry leaders from around the world,including the Technology and Entrepreneurship Center at Harvard University,several large corp

207、orations and more than 180 cities.These partnerships aim to promote sustainable and inclusive communities by making use of the expertise and resources of their members.101 Collaboration between the private sector and local universities and schools can be essential.By working together with the public

208、 sector and local communities,private-sector companies can employ their expertise and resources to create positive change and make a meaningful impact on the environment and society of the EU as a whole.Delivering on the European Green Deal:A Private-Sector Perspective26Recommendations 5Delivering o

209、n the EGD requires requires steadfast implementation and momentum across stakeholders.Image credit:Daniel Balakov,GettyImagesDelivering on the European Green Deal:A Private-Sector Perspective27To deliver on the EGD objectives,collaboration between the private sector and policy-makers is needed to cr

210、eate an environment that supports the sustainability agenda while ensuring the competitiveness of European businesses.Based on the analysis presented in this report,there are eight recommendations that will accelerate Europes path to climate neutrality as well as delivering stronger competitiveness.

211、The recommendations cover areas of innovation,energy,standards,financing and skills and are aimed at national as well as EU policy-makers.For each recommendation the private sector has a constructive role to play.The recommendations are mutually reinforcing and may overlap due to the intertwined nat

212、ure of the challenges they aim to resolve.The EU is a regulatory powerhouse and sets standards that,through its strong position as a trading bloc,radiate throughout the world.However,disharmony among member states on regulation and standards risks upsetting its current role as global regulatory tren

213、dsetter.As such,sustainability frameworks and regulations require better harmonization across member states.The CSRD is a step in the right direction.Due to its condensed implementation timeline,adequate resources to ensure its successful implementation must be made available,including clear guidanc

214、e and training for compliance professionals.While acting on the climate demands urgency,new EU directives require forward guidance and sufficient time for public consultation to avoid unpredictability and the resulting inability of market participants to adjust successfully.Where possible,the regula

215、tory landscape must continue to be simplified and standardized within the EU.Through more streamlined regulations that are internally consistent and deployed in a centralized way,businesses will have more leeway to innovate and develop green industries of scale.This will also create incentives for i

216、nvestors to put their money into cutting-edge European industries through gaining access to a single regulatory market without needing to adjust to country-specific frameworks and regulations.For national governments,speedy implementation of EU-wide standards and regulations would help the private s

217、ector navigate the business environment within the single market.At the same time,continued discussions between the EU,the International Sustainability Standards Board(ISSB0)and the Securities and Exchange Commission(SEC)must continue with the aim of globally harmonized sustainability standards.5.1

218、Improve forward guidance on regulations and standardsTo finance the structural changes that must take place for Europe to become climate neutral,significant investments are needed.Delivering these funds will require both public and private capital.The role of public capital is to guide the market an

219、d help companies de-risk climate-and sustainability-related investments.It is also a significant contributor to promoting much-needed European innovation.An increase in the available amount of financing can further stimulate market growth.To improve access to capital,policy-makers need to:Ensure a s

220、imple set of evaluation criteria and a fast-tracking system for application processes,including for decisions on applications that aim to use public funding for sustainability-related investments.Prioritize sustainable products and services in public procurement in line with uniform procurement guid

221、elines for the entire EU.5.2 Secure easier access to public financingDelivering on the European Green Deal:A Private-Sector Perspective28Simplifying permitting processes is key to accelerating the energy transition.Developing uniform standards across member states for permitting procedures,and setti

222、ng deadlines for permitting decisions to be made,would help increase access to public financing and facilitate the development of renewable energy.To speed the development and deployment of renewable energy across Europe,mechanisms and clear guidance should be put in place as soon as possible to hel

223、p member states adopt and operationalize streamlined permitting processes.5.3 Streamline permitting for renewable energy projectsThe EU taxonomy is a powerful tool for private-sector investors to engage in funding that supports the objectives of the EGD.Its complex nature and strict application prin

224、ciples,however,may constrain access to capital for some technologies.Refining the EU taxonomy to include emerging technologies including,but not limited to,the green-tech and bio-agricultural industries will be critical as technological developments often outpace regulatory ones.5.4 Refine the EU ta

225、xonomyThe demand for the skills needed in green industries will continue to accelerate in coming years.As such,it is critical for the private and public sectors to cooperate on education.Businesses should support policy-makers by identifying the skills needed for the green transition,and there shoul

226、d be institutionalized mechanisms in place for feeding this back into the education system to inform future curricula.This becomes even more important in the context of rapid structural changes.The private sector is well placed to advise on the balance of practical and academic skills needed to meet

227、 future labour demand.The education sector can,in its turn,support the private sector by providing access to primary research,data and analysis that can help spur green innovation and R&D.Businesses should promote the in-house development of cross-functional sustainability skills.Sustainability shou

228、ld be a central component in the development of digital and finance skills,as green-finance skills can support companies to,for example,secure green financing and develop sustainability standards.5.5 Promote education focused on market-ready skillsEnergy taxation is often perceived as a barrier to E

229、uropean competitiveness.First,in order to move towards greater electrification,taxes on electricity generation should be lowered.At the same time,policy-makers should consider an appropriate offsetting mechanism for companies that invest in renewable-energy generation.Such a mechanism would benefit

230、Europe by releasing more capital for innovation-enhancing investments.5.6 Optimize energy taxationDelivering on the European Green Deal:A Private-Sector Perspective29Achieving net zero can be both supplemented and accelerated by a reliable carbon-offsetting mechanism.To ensure that voluntary carbon

231、credits have their intended impact,the private sector can provide technology that helps track the quality of nature-based solutions and commit to using credits generated by these solutions.For this to be effective,however,policy-makers must set global and verifiable standards for the voluntary tradi

232、ng market.As developing economies tend to benefit particularly from issuing these types of credits,reliable mechanisms can support their just transition by generating revenue from nature-based solutions placed in these countries and purchased by businesses from developed economies.5.8 Create a relia

233、ble voluntary carbon-trading mechanismEVs are one of the main means of decarbonizing corporate transport,but they require a robust charging infrastructure and need to be supported by a reinforced high-and medium-voltage grid.There is potential for publicprivate partnerships to support the developmen

234、t of such grid infrastructure the public sector can establish the financing and regulations required to support this infrastructure development,while the private sector can commit to supplying a qualified workforce to fulfil the demand for its development.5.7 Ramp up the development of grid infrastr

235、ucture Delivering on the European Green Deal:A Private-Sector Perspective30The future role of the CEO Action Group 6The CEO Action Group provides a forum for open publicprivate dialogue,fostering initiatives that will help achieve the goals of the EGD.Image credit:Fahroni,GettyImagesDelivering on th

236、e European Green Deal:A Private-Sector Perspective31The many policy packages of the EGD aim to improve European competitiveness through policy initiatives covering climate,environment,energy,transport,industry,agriculture and sustainable finance.Achieving this transformative agenda cannot be done by

237、 policy-makers alone;it requires all relevant stakeholders to work collaboratively,including representatives from governments,business and expert communities.The private sector has a special part to play due to its fundamental role in the economy as well as its contribution to EU-wide emissions.As t

238、hese initiatives move from ambition to implementation,the private sector can be an essential player in driving these policies forward.The challenges faced by the private sector outlined in this report risk being compounded,as political headwinds continue to grow in the run-up to the 2024 European el

239、ections.At the same time,the report has demonstrated the potential of publicprivate cooperation and of joint-action partnerships in driving European climate action.Supported by the World Economic Forum,the CEO Action Group for the European Green Deal serves as a high-level platform for businesses to

240、 step up their work on climate-positive action and demonstrate their commitment to the EGD agenda.By providing both a dedicated forum for publicprivate policy dialogue and an incubator for joint-action initiatives exclusively focused on the EGD,the CEO Action Group is uniquely positioned to help dri

241、ve private-sector alignment with the EUs net-zero target.At the same time,through the Forums network of global communities,the work being done by these leading companies will be used to inspire similar action around the world.The membership of the Group will continue to broaden and will ensure that

242、companies publicly commit to climate neutrality by 2050,in line with the objectives of the EGD.To build on this momentum,the findings and recommendations from this report will be used to both inform and guide the future work of the community.This will ensure that the European private sector continue

243、s to be the global leader in supporting the creation of a sustainable,competitive and just economy.Delivering on the European Green Deal:A Private-Sector Perspective32AppendicesCEO Action Group contribution estimationAnalysed sample 21 companies(based on availability of publicly disclosed data)Calcu

244、lation logicData sourcesCompany reports(financial and integrated)EurostatEU27 R&D expensesEuropean revenueRatio of R&D to sales(global)Analysed sample 27 companies(based on availability of publicly disclosed data)Calculation logicData sourcesCompany reports(financial and integrated)EurostatEU27 GDPE

245、uropean revenueEBITDA margin()Analysed sample 35 companies(based on availability of publicly disclosed data)Calculation logicData sourcesCompany reports(integrated)LinkedInEurostatTotal number of employees in EU27Number of employees in EuropeGDP contributionRemarks-European revenue reflects best pro

246、xy of Europe region,based on company reports,and is not equal to EU27 revenue-Global EBITDA margin applied;for financial-sector companies,EBT margin appliedJob market contributionRemarks-Number of employees in Europe reflects best proxy of Europe region,based on company reports and LinkedIn search a

247、nd is not equal to EU27 employmentAnalysed sample 27 companies(based on availability of publicly disclosed data)Emissions contributionCalculation logicRemarksData sourcesCompany reports(financial,integrated and ESG)EnerdataEurostat-European revenue reflects best proxy of Europe region,based on compa

248、ny reports,and is not equal to EU27 revenue-EU27 emissions based on Eurostat data after exclusion of household emissions-EU-to-global-emissions ratio calculated based on EU emissions intensity and average emissions intensity of all global regions(including Europe)R&D contributionRemarks-European rev

249、enue reflects best proxy of Europe region,based on company reports,and is not equal to EU27 revenue-For the purpose of estimation,it is assumed that the share of R&D expenses is equal across all regions in which companies operateEU27 industrial emissions(excluding households)EuropeanrevenueTotalreve

250、nueTotal Scope 1and 2 emissionsEU-to-global-emissionsintensity ratio()Methodology of contribution estimationFIGURE 13Source:World Economic Forum in collaboration with AccentureDelivering on the European Green Deal:A Private-Sector Perspective33Assessment framework of companies alignment with the Eur

251、opean Green DealBaseline and logic of the assessment framework of companies alignment with the European Green DealFIGURE 14Baseline of the frameworkMeasurable targets are set for each action area on an EU level,but there are no specific targets for the private sector.2The goal of the assessment fram

252、ework is to provide criteria to compare data of different private-sector companies in a standardized and repetitive way.3Baseline of the frameworkLogic of the frameworkThe assessment framework is based on nine action areas identified by the European Commission.1ClimateBecoming the first climate-neut

253、ral continent by 2050EnergyA clean and efficient energy transitionEnvironment and oceansProtecting biodiversity and ecosystemsAgricultureA healthy food system for people and the planet TransportProviding efficient,safe and environmentally friendly transportIndustryStrategy for a competitive,green an

254、d digital EuropeResearch and innovationDriving transformative changeFinance and regional developmentSustainable investments to deliver the European Green DealNew European BauhausConnecting the European Green Deal to living spacesAction areaAction area objectiveFocus on publicly listed companies out

255、of 46 CEO Action Group members.14Focus group33 large publicly listed companies offering high availability of data and information Qualitative and quantitative assessment across nine areas aligned with the action areas of the European Green Deal.5A set of quantified KPIs reported over timeA set of st

256、rategy-focused yes/no questionsAssessment framework11 quantitative assessment criteria422 qualitative assessment criteriaResults based on publicly available data and CEO Action Group member input.6Survey targeted at CEO Action Group member companiesPublicly available company reportsPublicly disclose

257、d ESG data33 Data accessed via ESG book.2 Some criteria are sector-specific and apply only to a subset of analysed companies.1 Rationale:Excluding subsidiaries for which data is available at parent-company level and private companies that are not yet obliged to publish required data.Delivering on th

258、e European Green Deal:A Private-Sector Perspective34Assessment criteriaGHG emissions Scope 1 and 2Data sourcesAnalysed sample22Remarks Scope 2 emissions are based on location-based emissions unless unavailable,in which case market-based emissions were taken1 Analysed sample consists of companies tha

259、t have reported GHG emissions data during 20192022;selected companies were excluded due to changes in methodology or data missing for min.1 of the reporting periods,which made their data uncomparable over timeESG bookCompany reportsCDPGHG emissions Scope 321 Analysed sample consists of companies tha

260、t have reported GHG emissions data during 20192022;selected companies were excluded due to changes in methodology or data missing for min.1 of the reporting periods,which made their data uncomparable over timeESG bookCompany reportsCDPShare of renewable energy in total energy consumption27 Analysed

261、sample consists of companies that have reported consumption of renewable energy and total energy data during 20192022;selected companies were excluded due to data missing for min.1 of the reporting periods,which made their data uncomparable over timeCDPTotal water consumption19 Analysed sample consi

262、sts of companies that have reported water consumption data during 20202022;2019 data was excluded from the analysis due to a limited subset of companies with available data over 20192022 compared to availability over 20202022Total energy consumption27 Analysed sample consists of companies that have

263、reported consumption of renewable energy and total energy data during 20192022;selected companies were excluded due to data missing for min.1 of the reporting periods,which made their data uncomparable over timeCDPCompany reports%of key ingredients sustainably sourced4 The subset of companies includ

264、es four companies from the food and beverage industryCompany reportsTotal value of sustainable financing5 The subset of companies includes financial companies that have set targets for sustainable financingCompany reportsEU taxonomy-aligned and eligible CapEx16 The subset of companies includes 16 co

265、mpanies that report any taxonomy-eligible CapEx from the 33 companies that are large publicly listed companiesCompany reportsCapEx/sales32Capital IQR&D/sales26Capital IQTotal water withdrawals15 Analysed sample consists of companies that have reported water withdrawals data during 20202022;2019 data

266、 was excluded from the analysis due to a limited subset of companies with available data over 20192022 compared to availability over 20202022Company reportsNotes:1 Location-based Scope 2 emissions:the location-based method reflects the average emissions intensity of grids on which energy consumption

267、 occurs.The location-based method follows the basic allocation approach(section 1.2)and uses mostly grid-average emissions factors that are based on statistical emissions information and electricity output aggregated and averaged within a defined geographical boundary and a defined timeframe;market-

268、based Scope 2 emissions:the market-based method reflects emissions from the electricity that companies have chosen in the market or their lack of choice.Under this method of Scope 2 accounting,an energy consumer uses the GHG emissions factor associated with the qualifying contractual instruments it

269、owns.Quantitative criteria detailed data source informationFIGURE 15Source:World Economic Forum in collaboration with Accenture,analysis of a set of more than 50 publicly disclosed metrics forming an“Assessment Framework of Companies Alignment with the European Green Deal”Delivering on the European

270、Green Deal:A Private-Sector Perspective35Company reports used as primary sources of data(non-exhaustive)TABLE 1CompanyReportABB Sustainability Report 2022ArcelorMittalFact Book 2022ArcelorMittalIntegrated Annual Review 2022AXA 2023 Climate and Biodiversity ReportBASF BASF Report 2022 Integrated Corp

271、orate Report on Economic,Environmental and Social PerformanceBASF BASF Factbook 2023Bayer Sustainability Report 2022Coca-Cola HBC The Coca-Cola Company 2022 Business and Sustainability ReportDeutsche BankNon-Financial Report 2022ENGIE Group2023 Integrated ReportEni Eni for 2022 Sustainability Perfor

272、manceHSBC Holdings Annual Report and Accounts 2022Iberdrola Statement of Non-Financial Information.Sustainability Report Financial Year 2022Ko Holding Ko Group Sustainability Report 2022ManpowerGroup Working to Change the World:20212022 ESG ReportMastercard InternationalMastercard 2022 Environmental

273、,Social and Governance ReportMerck Sustainability Report 2022Natixis TCFD Report 2021NestlCreating Shared Value and Sustainability Report 2022Nokia People and Planet 2022Novozymes The Novozymes Report 2022PepsiCo2022 ESG SummaryProcter&Gamble International Operations 2023 Annual ReportRoyal PhilipsA

274、nnual Report 2022SanofiESG Event Play to Win PresentationSanofiRegistration Document 2022 Chapter 4 Corporate Social ResponsibilitySchneider Electric2022 Sustainable Development ReportSignifyAnnual Report 2022SONAE 2022 Annual Integrated ReportSwiss Re Management Highlights of Swiss Res Sustainabili

275、ty Approach TotalEnergiesSustainability and Climate 2023 Progress ReportUmicoreIntegrated Annual Report 2022UnileverUnilever Annual Report and Accounts 2022Xylem2022 Sustainability ReportYara International Yara Integrated Report 2022Yara International Yara Sustainability Report 2022Zurich Insurance

276、Group Annual Report 2022Company reports usedSource:Company websitesDelivering on the European Green Deal:A Private-Sector Perspective36ABB Heathrow Airport Holdings Procter&Gamble International Operations Algebris(UK)HSBC HoldingsRoland Berger Holding ArcelorMittalIberdrola Royal PhilipsArup Group I

277、ngka Group(IKEA)SanofiAXA Ko Holding Schneider ElectricBank Julius Baer ManpowerGroup SignifyBASF Massellaz SONAE Bayer Mastercard International IncorporatedSwiss Re Management Canica Holding Merck TotalEnergiesCoca-Cola HBC Natixis UmicoreCovington&Burling NestlUnileverDeutsche Bank Nokia Xylem DTE

278、KNovozymes Yara International ENGIE GroupOVG Real EstateZurich Insurance GroupEniPepsiCoHEADPlanet LabsList of CEO Action Group membersTABLE 2CEO Action Group membersDelivering on the European Green Deal:A Private-Sector Perspective37ContributorsWorld Economic Forum Andrew Caruana GaliziaDeputy Head

279、 of Europe and EurasiaMirek DuekManaging DirectorMarushia Li GislnCommunity Lead,Europe and Eurasia Alex RothCommunity Lead,Europe and EurasiaEmmy van EnkSpecialist,Europe and EurasiaAccenture Marcin CesarzManager,Strategy and Consulting,SustainabilityRobert CloverManaging Director and Green Finance

280、 Lead Europe,SustainabilityJacek JaworskiPrincipal Director,Strategy and Consulting,EnergyWytse KaastraSenior Managing Director and Sustainability Services Lead EMEA,Sustainability Anna KondasConsultant,Strategy and Consulting,SustainabilityJean-Marc OllagnierChief Executive Officer EuropeMichal Pio

281、trowskiManager,Strategy and Consulting,EnergyJulia PlonkaConsultant,Strategy and Consulting,EnergyAgata Szczotka-SarnaConsultant,Strategy and Consulting,SustainabilityProduction Albert Badia CostaDesignerAli MooreEditor,Astra ContentCEO Action Group Co-Chairs Ester BaigetPresident and Chief Executiv

282、e Officer,NovozymesFeike SijbesmaChairman of the Supervisory Board,Royal PhilipsCEO Action Group Co-Chairs(working level)Herman BettenSenior Adviser,Climate Leadership Communities,World Economic Forum Peter Steen MortenssenDirector,Global Public Affairs,NovozymesDelivering on the European Green Deal

283、:A Private-Sector Perspective38Endnotes1.World Economic Forum in collaboration with Accenture,analysis of a set of more than 50 publicly disclosed metrics forming an“Assessment Framework of Companies Alignment with the European Green Deal”.2.Eurostat,“Quarterly Greenhouse Gas Emissions in the EU”,No

284、vember 2023:https:/ec.europa.eu/eurostat/statistics-explained/index.php?title=Quarterly_greenhouse_gas_emissions_in_the_EU3.World Economic Forum,“Why Europes Climate Moon-Shot Needs the Private Sector as Co-Pilot”,12 November 2021:https:/www.weforum.org/agenda/2021/11/why-europe-s-climate-moon-shot-

285、needs-the-private-sector-as-co-pilot-european-green-deal/4.World Economic Forum and Alliance of CEO Climate Leaders,“Alliance of CEO Climate Leaders”:https:/initiatives.weforum.org/alliance-of-ceo-climate-leaders/home5.Calculations based on Capital IQ data and annual reports of selected CEO Action G

286、roup member companies.6.Ibid.7.Ibid.8.The survey was prepared by Accenture and the World Economic Forum and was sent to all 46 CEO Action Group member companies,of which 16 answered.The survey consisted of five sections and 28 questions three open ones and 25 closed ones with a Likert scale.The surv

287、ey was run via Qualtrics between 16 October and 2 November 2023.9.World Economic Forum in collaboration with Accenture,analysis of a survey of companies alignment with the European Green Deal.10.World Economic Forum in collaboration with Accenture,analysis of a set of more than 50 publicly disclosed

288、 metrics forming an“Assessment Framework of Companies Alignment with the European Green Deal”.11.European Commission,“Nature Restoration Law”:https:/environment.ec.europa.eu/topics/nature-and-biodiversity/nature-restoration-law_en12.World Economic Forum and Boston Consulting Group,The State of Clima

289、te Action:Major Course Correction Needed from+1.5%to 7%Annual Emissions,November 2023:https:/www3.weforum.org/docs/WEF_The_State_of_Climate_Action_2023.pdf13.World Economic Forum and Accenture,Net-Zero Industry Tracker:2023 Edition,November 2023:https:/www3.weforum.org/docs/WEF_Net_Zero_Tracker_2023

290、_REPORT.pdf14.Accenture analysis based on“Eurostat Statistics for the European Green Deal”:https:/ec.europa.eu/eurostat/cache/egd-statistics/15.Science Based Targets,SBTi Monitoring Report 2022:Looking Back at 2022 and Moving Forward to 2023 and Beyond,August 2023:https:/sciencebasedtargets.org/reso

291、urces/files/SBTiMonitoringReport2022.pdf16.World Economic Forum in collaboration with Accenture,analysis of a set of more than 50 publicly disclosed metrics forming an“Assessment Framework of Companies Alignment with the European Green Deal”.17.World Economic Forum in collaboration with Accenture,an

292、alysis of in-depth interviews conducted with members of the CEO Action Group and multiple online and offline feedback loops with the community.18.European Commission,“RePowerEU One Year On”:https:/energy.ec.europa.eu/topics/markets-and-consumers/actions-and-measures-energy-prices/repowereu-one-year_

293、en19.World Economic Forum in collaboration with Accenture,analysis of in-depth interviews conducted with members of the CEO Action Group and multiple online and offline feedback loops with the community.20.World Economic Forum,Manifesto on Implementing the European Green Deal in the New Global Conte

294、xt,2022:https:/www3.weforum.org/docs/WEF_Manifesto_for_the_CEO_Action_Group_for_the_EU_Green_Deal.pdf21.European Parliament,“EU Measures against Climate Change”,7 August 2018:https:/www.europarl.europa.eu/news/en/headlines/society/20180703STO07129/eu-measures-against-climate-change?&at_campaign=2023

295、4-Green&at_medium=Google_Ads&at_platform=Search&at_creation=RSA&at_goal=TR_G&at_audience=eu%20climate%20change&at_topic=Climate_Change&at_location=PO&gclid=Cj0KCQjwk96lBhDHARIsAEKO4xbfFiTSaf5LgUKCIrLglaR9vpDMq75gCMwcVatmp1dc-4FRkm8kK8QaAq2aEALw_wcB22.World Economic Forum in collaboration with Accent

296、ure,analysis of a set of more than 50 publicly disclosed metrics forming an“Assessment Framework of Companies Alignment with the European Green Deal”.23.European Commission,“Commission Sets Out Actions to Accelerate the Roll-Out of Electricity Grids”,28 November 2023:https:/ec.europa.eu/commission/p

297、resscorner/detail/en/ip_23_604424.Science Based Targets,SBTi Monitoring Report 2022:Looking Back at 2022 and Moving Forward to 2023 and Beyond,August 2023:https:/sciencebasedtargets.org/resources/files/SBTiMonitoringReport2022.pdf25.World Economic Forum in collaboration with Accenture,analysis of a

298、survey of companies alignment with the European Green Deal.Delivering on the European Green Deal:A Private-Sector Perspective3926.World Economic Forum,Deloitte and NTT Data,Transforming Food Systems with Farmers:A Pathway for the EU,April 2022:https:/www3.weforum.org/docs/WEF_Transforming_Food_Syste

299、ms_with_Farmers_A_Pathway_for_the_EU_2022.pdf27.Sustainable Markets Initiative,“Agribusiness Task Force”:https:/www.sustainable-markets.org/taskforces/agribusiness-task-force/28.Yara,CMD 2023:Capital Markets Day 2023:https:/ Food,“New Coalition Announces Bold Plan to Decarbonize Europes Food System”

300、,4 May 2021:https:/www.eitfood.eu/news/new-coalition-announces-bold-plan-to-decarbonize-europes-food-system30.Nestl,The Nestl Agriculture Framework,2022:https:/ Economic Forum in collaboration with Accenture,analysis of a set of more than 50 publicly disclosed metrics forming an“Assessment Framework

301、 of Companies Alignment with the European Green Deal”.32.European Commission,“Commission Welcomes Political Agreement on the Critical Raw Materials Act”,23 November 2023:https:/ec.europa.eu/commission/presscorner/detail/en/ip_23_573333.Eurostat,“Circular Economy:Monitoring Framework”:https:/ec.europ

302、a.eu/eurostat/web/circular-economy/monitoring-framework34.World Economic Forum in collaboration with Accenture,analysis of in-depth interviews conducted with members of the CEO Action Group and multiple online and offline feedback loops with the community.35.Ellen MacArthur Foundation,“A Leader in t

303、he Transition to a Circular Built Environment:Arup Group Limited”,15 March 2022:https:/www.ellenmacarthurfoundation.org/circular-examples/a-leader-in-the-transition-to-a-circular-built-environment-arup-group36.World Economic Forum in collaboration with Accenture,analysis of a set of more than 50 pub

304、licly disclosed metrics forming an“Assessment Framework of Companies Alignment with the European Green Deal”.37.Lake Constance Foundation and Global Nature Fund,Guidance 2023 How to Address Biodiversity Protection through Environmental Management Systems,February 2023:https:/www.business-biodiversit

305、y.eu/ E4 Biodiversity and Ecosystems,April 2022:https:/www.efrag.org/Assets/Download?assetUrl=%2Fsites%2Fwebpublishing%2FSiteAssets%2FED_ESRS_E4.pdf&AspxAutoDetectCookieSupport=139.United Nations Environment Programme,“COP15 Ends with Landmark Biodiversity Agreement”,20 December 2022:https:/www.unep

306、.org/news-and-stories/story/cop15-ends-landmark-biodiversity-agreement40.European Parliament,“Initiative for Water Resilience”,23 November 2023:https:/www.europarl.europa.eu/legislative-train/theme-a-european-green-deal/file-water-resilience41.World Economic Forum in collaboration with Accenture,ana

307、lysis of a set of more than 50 publicly disclosed metrics forming an“Assessment Framework of Companies Alignment with the European Green Deal”.42.Ibid.43.European Commission,Innovative Solutions in the Process Industry for Next Generation Resource Efficient Water Management,“New Technologies Help Pr

308、ocess Industry become More Water Efficient”,August 2020:https:/cordis.europa.eu/article/id/421824-new-technologies-help-process-industry-become-more-water-efficient44.Aspire,INSPIREWATER Innovative Solutions in the Process Industry for Next-Generation Resource-Efficient Water Management,2020:https:/

309、www.aspire2050.eu/inspirewater45.Climate Adapt,“Private Investment in a Leakage Monitoring Program to Cope with Water Scarcity in Lisbon”,October 2016:https:/climate-adapt.eea.europa.eu/en/metadata/case-studies/private-investment-in-a-leakage-monitoring-program-to-cope-with-water-scarcity-in-lisbon4

310、6.Calculation based on Capital IQ data and annual reports of selected CEO Action Group member companies.47.European Parliament,“EU Ban on the Sale of New Petrol and Diesel Cars from 2035 Explained”,3 November 2022:https:/www.europarl.europa.eu/news/en/headlines/economy/20221019STO44572/eu-ban-on-sal

311、e-of-new-petrol-and-diesel-cars-from-2035-explained48.World Economic Forum in collaboration with Accenture,analysis of a set of more than 50 publicly disclosed metrics forming an“Assessment Framework of Companies Alignment with the European Green Deal”.49.World Economic Forum in collaboration with A

312、ccenture,analysis of in-depth interviews conducted with members of the CEO Action Group and multiple online and offline feedback loops with the community.50.Accenture,Lead the Charge:Fleet Electrification Accelerated:https:/ Economic Forum in collaboration with Accenture,analysis of in-depth intervi

313、ews conducted with members of the CEO Action Group and multiple online and offline feedback loops with the community.53.European Commission,European Innovation Scoreboard 2023,June 2023:https:/op.europa.eu/en/web/eu-law-and-publications/publication-detail/-/publication/04797497-25de-11ee-a2d3-01aa75

314、ed71a1Delivering on the European Green Deal:A Private-Sector Perspective4054.Science|Business,“Funding Synergies to Nudge EU Countries Closer to 3%R&D Spending Target by 2030”,1 March 2021:https:/ of R&D expenditures as a percentage of revenue in 2022 of 22 CEO Action Group companies.56.Accenture,In

315、novate or Fade:European Businesses Need to Address the Technology Deficit to Turn the Tide,July 2023:https:/ Economic Forum in collaboration with Accenture,analysis of a survey of companies alignment with the European Green Deal.58.World Economic Forum in collaboration with Accenture,analysis of a s

316、et of more than 50 publicly disclosed metrics forming an“Assessment Framework of Companies Alignment with the European Green Deal”;Business Europe,Reform Barometer 2023:The EUs Global Competitiveness Under Threat,March 2023:https:/www.businesseurope.eu/sites/buseur/files/media/reports_and_studies/re

317、form_barometer_2023/2023-05-10_final_10_05_23_reform_barometer_march_2023.pdf59.Calculation based on Eurostat data.60.World Economic Forum in collaboration with Accenture,analysis of a survey of companies alignment with the European Green Deal.61.European Commission,“Revision of the Energy Taxation

318、Directive(ETD):Questions and Answers”,14 July 2021:https:/ec.europa.eu/commission/presscorner/detail/en/qanda_21_366262.European Council,“Infographic Fit for 55:How the EU Plans to Revise Energy Taxation”,2022:https:/www.consilium.europa.eu/en/infographics/fit-for-55-energy-taxation/63.Council on Ec

319、onomic Policies,“Inflation Reduction Act vs.Green Deal:Transatlantic Divergences on the Energy Transition”,20 March 2023:https:/www.cepweb.org/inflation-reduction-act-vs-green-deal-transatlantic-divergences-on-the-energy-transition/European Parliament,“EUs Response to the US Inflation Reduction Act(

320、IRA)”,June 2023:https:/www.europarl.europa.eu/RegData/etudes/IDAN/2023/740087/IPOL_IDA(2023)740087_EN.pdf).64.Sustainable Markets Initiative,“Agribusiness Task Force”:https:/www.sustainable-markets.org/taskforces/agribusiness-task-force/.65.Calculation based on European Commission and Peter G.Peters

321、on Foundation data.66.European Commission:Energy,Factsheet on Energy Taxation:https:/energy.ec.europa.eu/system/files/2019-07/qmv_factsheet_on_taxes_0.pdf67.UBS,“Carbon Markets:The Challenges and Opportunities”,May 2023:https:/ Nations Development Programme,“Carbon Justice for All:How Carbon Markets

322、 Can Advance Equitable Climate Action Globally”,30 June 2022:https:/www.undp.org/africa/blog/carbon-justice-all-how-carbon-markets-can-advance-equitable-climate-action-globally69.European Commission,Annual Single Market Report 2023,January 2023:70.World Economic Forum in collaboration with Accenture

323、,analysis of a survey of companies alignment with the European Green Deal.71.European Commission,Annual Single Market Report 2023,January 2023:72.World Economic Forum in collaboration with Accenture,analysis of in-depth interviews conducted with members of the CEO Action Group and multiple online an

324、d offline feedback loops with the community.73.EUR-Lex,“Directive(EU)2022/2464 of the European Parliament and of the Council of 14 December 2022 amending Regulation(EU)No 537/2014,Directive 2004/109/EC,Directive 2006/43/EC and Directive 2013/34/EU,as Regards Corporate Sustainability Reporting(Text w

325、ith EEA relevance)”:https:/eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32022L246474.World Economic Forum in collaboration with Accenture,analysis of in-depth interviews conducted with members of the CEO Action Group and multiple online and offline feedback loops with the community.75.Internati

326、onal Monetary Fund European Department,“Euro Area Policies:2023 Article IV Consultation-Press Release;Staff Report;and Statement by the Executive Director for Euro Area;IMF Country Report No.23/264”,19 July 2023:https:/www.elibrary.imf.org/view/journals/002/2023/264/article-A001-en.xml76.World Econo

327、mic Forum in collaboration with Accenture,analysis of in-depth interviews conducted with members of the CEO Action Group and multiple online and offline feedback loops with the community.77.European Commission,Communication from the Commission to the European Parliament and the Council,July 2023:htt

328、ps:/eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52023DC037678.International Energy Agency,World Energy Investment 2022,June 2022:https:/www.iea.org/reports/world-energy-investment-202279.European Commission,“Questions and Answers on the Sustainable Finance package”,June 2023:https:/ec.euro

329、pa.eu/commission/presscorner/detail/en/qanda_23_319480.European Union InvestEU,“Contribution to the Green Deal and the Just Transition Scheme”:https:/www.businesseurope.eu/sites/buseur/files/media/position_papers/iaco/2022-04-12_permitting_and_ppas_-_reply_to_consultation.pdfDelivering on the Europe

330、an Green Deal:A Private-Sector Perspective4181.World Economic Forum in collaboration with Accenture,analysis of in-depth interviews conducted with members of the CEO Action Group and multiple online and offline feedback loops with the community.82.Business Europe,“Response to the Public Consultation

331、 on Permit-Granting Processes for Renewable Energy Projects and Power Purchase Agreements”,12 April 2022:https:/www.businesseurope.eu/sites/buseur/files/media/position_papers/iaco/2022-04-12_permitting_and_ppas_-_reply_to_consultation.pdf83.World Economic Forum in collaboration with Accenture,analys

332、is of a set of more than 50 publicly disclosed metrics forming an“Assessment Framework of Companies Alignment with the European Green Deal”.84.World Economic Forum in collaboration with Accenture,analysis of in-depth interviews conducted with members of the CEO Action Group and multiple online and o

333、ffline feedback loops with the community.85.Ibid.86.European Commission,“EU Taxonomy for Sustainable Activities”:https:/finance.ec.europa.eu/sustainable-finance/tools-and-standards/eu-taxonomy-sustainable-activities_en.87.Climate Positive Europe Alliance,EU Taxonomy Study:Evaluating the Market Readiness of the EU Taxonomy Criteria for Buildings,March 2021:https:/www.cpea.eu/wp-content/uploads/2021