Our highly globalised economy provides us all sorts of products and services from local produce and tropical fruits to inexpensive clothing, from hi-tech gadgets to vacation packages across the planet. The European economy is active in many sectors, including industry, agriculture, energy, transport, construction, manufacturing, tourism and a wide range of services, offering millions of jobs in countless companies, stores and offices.
But unfortunately, these economic activities and the sectors that keep our economies running are also harming nature and causing climate change. The European economy, much like the rest of the world, needs resources — materials, energy, land and water, in addition to human capital and labour — to produce the products and services we enjoy.
Despite significant contributions to our living standards, our current production systems are not sustainable. They extract more resources than nature can replenish and release more pollutants than nature and people can tolerate without experiencing harmful effects.
We are consuming too much too. Goods and people are being transported further, piling on greenhouse gas emissions and causing even more pollution. When we are done with those goods, we throw them away, adding to waste and pollution. In our globalised world, Europe’s consumption has impacts well beyond its borders.
To achieve true sustainability, Europe needs to transform key systems and their sectors, including agriculture, transport, energy, industry and construction, into a circular economy. Our success will also depend on our ability to finance sustainability.
