The Green Deal will affect every business and industry

In the coming years, almost all sectors will be involved in implementing the EU’s Green Deal and sustainability issues, which will include new challenges for entrepreneurs, but will also open up unprecedented opportunities to increase their competitiveness and outperform less resilient competitors. European and global markets are already reorienting them in this direction, so the winners will be those companies that can quickly adapt to this trend. How do you use the green cycle and the new rules for the benefit of your business, where do you get ideas for more successful business and how can this aspect affect the availability of funding for business development?

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The main objective of the European Union (EU) Green Deal is to significantly reduce air, water and soil pollution, thus having a positive impact on the health of the entire EU population. It is based on the pragmatic thinking of European politicians – according to estimates by the European Environment Agency, over the past 40 years, climate change alone has led to economic losses in the European Union amounting to 487 billion. The various measures will work and will indeed be aimed at stimulating the achievement of the “green” goals – from the financing provided by EU funds to the rules and regulations that European countries must comply with.

At the same time, it is wrong to assume that these changes relate only to potential “pollutants”. In the coming years, all sectors of the economy will be affected by the EU’s green path. Both transportation and energy production, which are the two main sources of greenhouse gas emissions, and any other sector in which the use of sustainable solutions for production, logistics, building construction, biodiversity conservation, energy consumption and everyday tasks in general is already encouraged.

In the field of entrepreneurship, especially in the international market, the advantage will be on the side of companies able to move faster to the green path and, among other things, the absorption of EU funding earmarked to support the “green transition”. The need for the green path is dictated not only by the rules set by the European Union, but also by requests from The most demanding controllers any commercial consumer. As public opinion changes, so does people’s interest in responsible production and consumption of the goods or services of their choice. In stores today, you can meet buyers who carefully study the composition of the offered products, young parents pay attention to the origin of the materials for children’s clothing, and when buying a home, one of the first questions concerns the cost, power options and resources for family needs.

The introduction of sustainable solutions in production and other business processes is also driven by business considerations for cost optimization – energy prices are rising, but it will not be possible to save at the expense of raw materials or pollute the environment, as this can lead to additional costs in the form of various fees and taxes.

At the same time, the availability of funding for any institution is a powerful incentive for a “green transition” https://rus.delfi.lv/biznes/zelenaja-jenergija-preimushhestva-i-vyzovy-dlja-biznesa/. Now one of the most important factors in evaluating a business development loan project is its degree of sustainability – whether it helps reduce energy consumption, whether it pollutes the environment, and whether it can meet the criteria in the future. Preserving the environment – Both for the individual for the country and for the general for the European Union. We are pleased to note that among the bank’s clients there are already a number of international manufacturers and developers, for whom the green cycle has become a common practice,” says Dmitry Latychev, CEO of BluOr Bank.

To discuss these issues, comment on trends and talk about successful examples in the business environment, a series of articles has been launched on the DELFI portal with the support of BluOr Bank under the title “Green Energy: Benefits and Challenges for Business”Where are we:

– Let’s talk about inspiring examples among successful Latvian companies;

– discuss Latvia’s progress towards a green path;

Explain whether non-waste production is possible;

– We will study the successful experience of the pioneer of the green cycle among foreign companies;

We will analyze the possibilities for improving the environmental side of the business.

See you in the “Green Energy” section!

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