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The Greens suffered a crushing defeat in the European Parliament elections

June, 10 2024
watermark Economic news

The recent elections put an end to the period of the most environmentally oriented parliament in the history of the European Union. Now, five years later, voters are more concerned about migration and the cost-of-living crisis than the climate.

This defeat threatens the achievement of the zero emissions target by 2035. The main problem for the EU will be to ensure financing for the «green transition», as economic growth remains weak and inflation remains stable.

And in order to achieve net-zero greenhouse emissions, the block will need to invest about 1.5 trillion euros annually between 2031 and 2050 in its energy and transport systems.

The Green Party won only 7.22% of the vote. The European People's Party (EPP, Christian Democrats) is leading this year, which can get 184 seats (25.56%) in the new composition. She supports the current head of the European Commission, Ursula von der Leyen. 

The second place belongs to the Group of the Progressive Alliance of Socialists and Democrats in the European Parliament (S&D) — 139 seats (19.31%). Closes the top three of Renew Europe («Renewing Europe»). Representatives of this party promise to modernize Europe, including through the fight for the legalization of same-sex marriage in Europe (16 EU countries register such marriages, 11 have not yet).

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