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The recent agreement of the European Council and the European Parliament to reach climate neutrality by 2050 has sped up the global race in commitments to achieving zero greenhouse gas emissions.
One of the strongest price rallies in history for various commodities (e.g. oil, copper, steel) is consolidating in 2021. The speed of the upside movement could make you think that we are at the start of a new commodities supercycle. If we are, it would be quite different from the previous ones.
Climate change is an unstoppable wave on the horizon where consumption or investment decisions and public policies are made. Climate change mitigation must be bolstered by measures to adapt to its effects. In so doing, its impacts will be felt in waves rather than a tsunami.
The United Nations Environment Program's Emissions Gap Report 2020 estimates that greenhouse gas emissions will have fallen by between 2% and 12% compared to 2019, but a transitory decline is not enough.
Europe has invited the US to work on an agenda for global change on four issues that are becoming increasingly challenging: health, the environment, trade and technology, and political governance. However, the mechanisms for implementing these measures have not been mentioned. Altruism and containing China are not enough.
Discussions about climate change policies are gaining ground in public debate as social awareness improves, and this is increasingly reflected in specific proposals for defining economic policy.
The European Union's work for climate resilience continues with the recent progress toward the European Climate Law and the definition of the biodiversity strategy for the next decade.
The Spanish government's Recovery, Transformation and Resilience Plan aims to transform the Spanish economy by taking advantage of Next Generation EU grants and its Recovery and Resilience Facility, valued at about EUR 140 billion — just over half of which will be allocated through grants and the remainder via loans.