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According to the page, approximately half of the global [[GDP]] depends on nature. In Europe many parts of the economy that generate trillions € per year, depend on nature. Currently the benefits of [[Natura 2000]] in Europe contribute €200 - €300 billion per year.<ref name="EU Biodiversity Strategy">{{cite web |title=EU Biodiversity Strategy for 2030 |url=https://ec.europa.eu/info/strategy/priorities-2019-2024/european-green-deal/actions-being-taken-eu/eu-biodiversity-strategy-2030_en |website=European Commission website |publisher=European Union |access-date=25 May 2020}} [[File:CC-BY icon.svg|50px]] Text was copied from this source, which is available under a [https://creativecommons.org/licenses/by/4.0/ Creative Commons Attribution 4.0 International License].</ref> [[Florika Fink-Hooijer]], Director General of the [[Directorate-General for the Environment]], said that the EU has the “ambition to be a standard setter" for global biodiversity policy.<ref>{{Cite web|title='Be sustainable or be irrelevant': Green week begins with call for food revolution|url=https://www.endseurope.com/article/1697838|access-date=2021-05-27|website=www.endseurope.com}}</ref>
====Nature Restoration Law====
In July 2023, after many debates the European Parliament adopted a version of the '''Nature Restoration Law''', aiming to restore nature on 20% of the territory of EU by 2030.{{update inline|date=June 2024}}<ref>{{cite news |last1=Magee |first1=Caolán |title=Europe agrees landmark nature and climate deal after tense negotiations |url=https://edition.cnn.com/2023/07/12/europe/eu-nature-restoration-law-climate-intl/index.html#:~:text=The%20European%20Parliament%20on%20Wednesday,land%20and%20sea%20by%202030. |access-date=17 July 2023 |agency=CNN |date=12 July 2023}}</ref> In June 2024, [[Leonore Gewessler]] played a pivotal role in its final passage in the Council of the EU. Despite significant opposition and political controversy, Gewessler announced her support for the law, citing her inability to reconcile letting the opportunity pass without having tried everything. This decision, however, placed her in a contentious legal grey area due to opposition from Austria's federal states and her coalition partners, the centre-right Austrian People's Party (ÖVP).<ref>{{Cite news |last=Niranjan |first=Ajit |date=2024-06-17 |title=EU passes law to restore 20% of bloc's land and sea by end of decade |url=https://www.theguardian.com/world/article/2024/jun/17/eu-passes-law-to-restore-20-of-blocs-land-and-sea-by-end-of-decade |access-date=2024-06-17 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref> Gewessler had previously been unable to support the law due to unanimous opposition from Austria's [[Federal states of Austria|nine states]], however [[Vienna]] and [[Carinthia]] withdrew opposition following changes to the proposed law without explicitly shifting the unanimous stance.<ref>{{cite news |url=https://www.theguardian.com/world/article/2024/jun/17/eu-passes-law-to-restore-20-of-blocs-land-and-sea-by-end-of-decade |title=EU passes law to restore 20% of bloc's land and sea by end of decade |author=Ajit Niranjan |work=The Guardian |date=17 June 2024 |access-date=21 June 2024}}</ref> With the Act's passage in the Council, it will come into force 20 days after publication in the EU Official Journal.<ref>https://oeil.secure.europarl.europa.eu/oeil/popups/ficheprocedure.do?reference=2022/0195(COD)&l=en</ref>
=== Sustainable finance ===
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