Page 12 - Economy_Sustainable Global Economy

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In order to work on the priorities set, the EU mentions in the document the so-called horizontal
instruments, areas of action that can accelerate the transition towards sustainability over European
territories. Some of the proposals are closely related to the business sector, such as technology,
innovation and digitization, and others make direct reference to companies, such as social responsibility
and new business models.

For now, the level of coercion is still low, and incentive measures are chosen to move toward sustainability.
Among the main measures contemplated by the EU is the adoption of incentives for those companies that
integrate the Sustainable Development Goals in their activities, the promotion of business standards of
conduct such as the Guiding Principles on Business and Human Rights or the promotion of companies and
social entrepreneurs. In addition, the report highlights important opportunities for markets:

- The circular economy can generate a net economic benefit of 1.8 trillion euros in the regions where it is
implemented and could create more than a million new jobs until 2030;

- Renewable energies can lead to the creation of 900,000 jobs until the same year.