Third, the bloc needs strong and effective Clean Trade and Investment Partnerships. Von der Leyen’s plan for the next five years includes this idea, with the aim of helping secure supply of raw materials, clean energy and clean tech from across the world. And this dovetails nicely with the recent trend of signing partnerships with third countries, as they will need to be consolidated into a single, unified green industrialization approach for each partner nation.

Such alliances should facilitate the transition of major partner countries in the global south up the supply chain, advancing from mere extraction to refining and value-added processes that emphasize sustainability and efficiency. However, as this transition will require strategic investment in projects aimed at enhancing environmental performance and technological innovation, collaboration with the private sector is also essential. And while direct intervention by EU governments may be limited, they can support private investment through financial guarantees and export credits.

Fourth, and finally, a new international trade and climate deal will be vital for the EU. The looming risk of a green trade war between the U.S., China and Europe currently poses a significant threat to global decarbonization. So, to mitigate this risk and foster a conducive environment for sustainable trade, the EU should advocate for plurilateral agreements on green subsidies and tariffs.

These agreements would ensure that trade policies align with environmental objectives, while also preventing the emergence of protectionist measures that undermine global decarbonization efforts. Collaboration with major partners — particularly the U.S. and China — will be crucial in this endeavor, and Europe should engage in constructive dialogue, exploring options for cooperation via existing mechanisms, as well as multinational agreements. Moreover, the bloc must resist the temptation of protectionist inward-looking policies itself.

In the five years ahead, the European Green Deal’s external dimension will be just as important as its domestic one, and should be brought to the fore of the EU’s climate strategy accordingly. Failure to support decarbonization abroad risks compromising the Green Deal’s domestic implementation, as well as the possibility of reaching global climate targets.

The new EU institutional cycle is an opportunity for Europe to solidify its leadership in this area. It’s time for the Green Deal to go global.