The European Commission

Through Next Generation EU (NGEU) and a revamped EU budget for the period 2021-2027, every euro of investment will be made available to get Europe back on its feet, while accelerating the twin green and digital transitions and building a fairer and more resilient society. This is a real opportunity to unlock billions of euro’s to make Europe climate neutral by 2050. Thirty percent of the 1.82 trillion EUR under the 2021-2027 EU budget and the NGEU will go to climate-related spending. This translates to more than EUR 500 billion in the next seven years to make Europe climate neutral by 2050. The EU spending will be in line with the objectives of the Paris Agreement and will follow the 'do no harm' principle.
The green economic recovery agenda is driven by scientific evidence and economic logic. The European Green Deal and the digital transformation agenda are growth strategies for a more sustainable, inclusive, resilient and future proof economy and reinvigorated Single Market. They will be the red thread running through our recovery initiatives and will contribute to delivering the EU’s open strategic autonomy objectives.
To make this possible, the Commission and Member States will ensure that all available planning tools for the European Green Deal are used coherently. The most important of these are the National Energy and Climate Plans (NECP) and the proposed Strategic National Plans to implement the common agricultural policy. The National Recovery and Resilience Plans to be presented and implemented by the EU Member States under the NGEU initiative are also expected to decisively contribute to the green economic recovery.
As part of Europe's recovery, the European Commission has adjusted its Work Programme for 2020, remaining fully determined to deliver on the European Green Deal, and at the same time responding to the coronavirus pandemic by refocusing its work and prioritising the actions needed to propel Europe's recovery and resilience.

(1) Next Generation EU - the EU's recovery instrument embedded within a revamped long-term EU budget - to ensure that the recovery is sustainable, even, inclusive and fair for all EU Member States - proposed by the Commission (https://ec.europa.eu/commission/presscorner/detail/en/ip_20_940)
(2) Climate mainstreaming of the Multiannual Financial Framework for 2021-2027 and Next Generation EU - 30% climate spending target as per European Council conclusions of 21 July - currently under negotiation by EU legislators (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM%3A2020%3A442%3AFIN; https://www.consilium.europa.eu/media/45109/210720-euco-final-conclusions-en.pdf; https://ec.europa.eu/clima/policies/budget/mainstreaming_en)
(3) European Green Deal Communication - setting out the EU green trategy - adopted by the Commission (https://ec.europa.eu/info/publications/communication-european-green-deal_en)
(4) Recovery and Resilience Facility: where Member States present National Recovery and Resilience Plans addressing the green and digital transition, in line with the European Semester, National Energy and Climate Plans, and Territorial Just Transition Plans - proposed by the Commission (https://ec.europa.eu/info/sites/info/files/com_2020_408_en_act_part1_v9.pdf; https://ec.europa.eu/info/live-work-travel-eu/health/coronavirus-response/recovery-plan-europe_en)
(5) REACT EU - Recovery Assistance for Cohesion and the Territories of Europe - an initiative that continues and extends the crisis response and crisis repair measures. It will contribute to a green, digital and resilient recovery of the economy - proposed by the Commission (https://ec.europa.eu/regional_policy/sources/docgener/factsheet/2020_mff_reacteu_en.pdf; https://ec.europa.eu/commission/presscorner/detail/en/qanda_20_948)
(6) The SME Strategy for a sustainable and digital Europe provides a support framework notably for the recovery of SMEs while responding to the continent's sustainability and digitalisation ambitions and making SMEs more resilient - adopted by the Commission (https://ec.europa.eu/knowledge4policy/publication/communication-com2020103-sme-strategy-sustainable-digital-europe_en)

Note: The term adopted is used for non-legislative initiatives that have been adopted by the Commission. The term proposed is used for legislative initiatives that have been proposed by the Commission and are subject for approval and adoption through the EU's legislative decision-making procedures.