Welcome to the EU Monthly, NEO’s sustainability and ESG news round up from Brussels.
Here are the highlights for June 2024:
Europe after Elections: The long-anticipated EU elections took place on June 6-9. The election results show that centrist parties will continue to dominate the new parliament, but there is a significant increase in far-right parties. The impact on EU environmental policy is still uncertain, but a shift towards a more cautious, less green-focused approach than during von der Leyen’s first term is anticipated. Unless the Commission President forms an alliance with the Greens, the implementation of the Green Deal is expected to lean more towards being farmer- and industry-friendly, while still maintaining its fundamental goals. (Read more: Carbon Brief)
Landmark Nature Restoration Law Approved: The European Council has approved a landmark Nature Restoration Law aimed at revitalizing at least one fifth of the EU’s land and sea areas by 2030 and 90% of habitats by 2050. This legislation, the first of its kind globally, sets binding targets for restoring wetlands, forests, grasslands, and marine ecosystems, while also focusing on reversing the decline of pollinators and improving urban green spaces. Despite facing significant opposition, the law was adopted following extensive negotiations. The law also includes provisions for member states to create national restoration plans and unlock sustainable financing measures to support these efforts, marking a significant step forward in global environmental leadership. (Read more: Al Jazeera)
Updates on the Soil Monitoring Law: On June 17, the EU Environment Council agreed on the first EU soil law, allowing member states greater flexibility in implementation. The law aims for healthy soils by 2050, retaining mandatory sustainable soil management but making soil management principles voluntary. The Council also removed a proposal for voluntary soil health certificates for farmers. While environmental groups worry this flexibility weakens the law, farming associations welcomed the changes. Negotiations between the Council and the European Parliament will begin after the summer. (Read More: Euractiv)
