By now most Europeans are growing quite familiar with the phrase ‘Europe 2020’, which refers to the European Union’s growth strategy for

the next decade.

Based on fostering a more inclusive and sustainable economy, this programme includes initiatives to aid EU member states in solving current issues with the economy and growth that will also benefit the region for future generations. The goals that Europe 2020 sets deal with a multitude of issues including innovation, education and employment. One of the main themes of the programme’s agenda is sustainability, and there is a special emphasis on energy and the environment. There are many targets presented in these areas. These include reducing greenhouse gas emissions by 20 or more per cent (compared to the year 1990), increasing the amount of renewable energy to 20% of total consumption, and striving towards a 20% overall increase in energy efficiency. These goals all fall under the branch of one of Europe 2020’s main initiatives – resource efficiency.

Europe 2020 outlines seven main flagship initiatives, which are all geared toward improving the economic and living conditions within the EU area. These include innovation, the digital agenda and the fight against poverty, to mention but a few. The ‘resource efficiency’ initiative is of particular relevance to sustainable growth. Its overarching goal is to build a more competitive, low-carbon economy that makes efficient use of resources. It aspires to further develop green technologies and production techniques and improve the system of smart electricity grids. In addition, it seeks to protect the environment by reducing emissions and loss of biodiversity. To reach its goals, the resource efficiency initiative provides specific agendas for the areas of energy, industry and climate change, as well as transport, agriculture and regional development.

There are many reasons why aspiring for resource efficiency should be a top priority for Europe. For one, natural resources are at the base of the European economy and largely influence our standard of living. We need sustainable practices in order to maintain high levels of productivity and ensure the welfare of citizens. Furthermore, many of these measures – reducing CO2 emissions, waste and consumption – are important both for protecting our planet and for ensuring greater energy security.

Another reason to prioritise resource efficiency is that sustainability is beneficial to the economy; it can drive productivity as well as competitiveness. Along with resource efficiency will come greater opportunities in research, employment and production. In addition, costs decrease as efficiency is raised. Meeting the goals outlined by Europe 2020 could save up to €60 billion in terms of oil and gas imports and could also create hundreds of thousands of jobs. Furthermore, the increased integration of European energy markets has the potential to boost overall GDP by up to 0.8%.

A last argument in favour of this initiative is that it will maintain the EU’s status as a global leader and trailblazer in the field of sustainability. By setting an example for resource efficiency and sustainability, we not only regain competitiveness, but also have the power to influence the future of our planet – something we should care deeply about. In the past, the EU has pioneered the path for green technology and solutions and it is crucial that we maintain this. Resource efficiency is of ever-growing importance for Europe and the rest of the world. Indeed, there has been much concern that, in the wake of the economic crisis, attention is being shifted away from important energy and environmental issues. Thus it is laudable that the EU has maintained its focus in light of all the other issues at hand.

Amidst administering cures for immediate relief, it is important to think about the long-term. We want to ensure that future generations have healthy economic conditions and good standards of living. In the words of Commission President José Manuel Barroso, “continuing our current patterns of resource use is not an option. They put too much pressure on our planet and make our economy more dependent on external supplies”. In addition, “a smarter use of scarce resources is therefore a strategic necessity, but also an economic opportunity”.

This emphasises how growth efforts should be sustainable. And we cannot have sustainable growth without making our use of resources more efficient. This is what Europe 2020 will endeavour to achieve in the coming years. It will require a lot of work and adequate implementation at national level. Yet if the programme successfully leads to the implementation of a low-carbon, resource-efficient economy, Europe 2020 may prove to be an extraordinary example of sustainability for the rest of the world to follow.