The EU Green Deal and the future of the EU business law - scenarios for legal evolution
The EU Green Deal and the future of the EU business law - scenarios for legal evolution

Author(s): Oleg Zaichuk, Yuri Zaichuck
Subject(s): Law, Constitution, Jurisprudence, Law on Economics, EU-Legislation, Commercial Law
Published by: Societatea de Stiinte Juridice si Administrative
Keywords: EU law; business law; renewables; EU Green Deal;
Summary/Abstract: The ongoing transition away from fossil fuel presented a number of challenges for the EU and its legal profession. According to the EU official statistics, the EU is on its way toward becoming the first carbon neutral region of the planet. However, even Germany is struggling to generate enough electricity from its renewables and actively pursuing "strategic alternatives". The EU is actively looking into introducing a so-called carbon adjustment on its border to create a level field for its own companies. However, at the same time, the EU is heavily dependent on exporting its goods to the very same countries which actively resist EU's plan to charge the carbon border duty on their ex- ports to the EU while EU's competitiveness and share of the world's trade is slowly but inexorably falls behind the rest of the world. The future of the EU business law and the outcome of the EU green transition depends on the speed of the technological progress which is highly uncertain. It is this evolution of technology which would determine the future of the EU business law whether EU's political actors accept it or not.

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