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The EU Green Deal has largely managed to encapsulate global developments advocating systemic change, and its ongoing action plan intends to enable deep transitions in Europe. The strategy recognises the need to “restore the natural functions of ground and surface water” and tackle the “excessive consumption of natural resources”. It sets out a number of industry reforms aligned to foster the transition towards circularity, and towards a greener and resource-efficient economy. At a macro-level, the Green Deal aims to increase sustainable finance and channel public and private investments into sustainable activities and projects. The use of crosscutting instruments such as the EU Sustainable Taxonomy is highlighted in the Green Deal, as they aim to establish financing standards to increase efficient use and protection of –among others- water resources across the European economy.

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