Follow-up from Green Week 2016 conclusions - outlook Green Week 2017 - Main contents

As the mid-point of my term as Commissioner for the Environment approaches, one thing is becoming increasingly clear. You can't solve major environmental problems with quick fixes. You need to plan for the longer term, and steer clear of solutions that promise only temporary gains.

That's the sort of thinking we bring to the EU Green Week. The week isn't an isolated event - it's a highlight of the annual calendar, but it's also part of a process, not an end in itself.

The 2016 edition, in Brussels, Vienna, Ljubljana, put the spotlight on the sort of investments that will be vital in the transition to a greener economy. We explored ways of greening the financial system, and more specifically our cities, countryside and oceans, and considered how we could meet the needs of future generations. More than 140,000 people in 31 countries visited at least one of the 182 partner events, and hundreds of thousands of citizens engaged with the events online.

It was a great success, but most importantly, it wasn't just an event. It was part of a process, a wider move towards getting Europe on a more sustainable track. A track that also included the Communication on the Sustainable Development Goals adopted in November, and the considerable achievements of COP21 in Marrakech, on climate finance, adaptation and capacity-building.

I'm glad to say that process continued for the rest of the year, with some very promising results. President Juncker, for example, in his State of the Union address, included several new initiatives in this area. The Action Plan he announced for the Capital Markets Union includes an EU strategy for sustainable finance, with input to come from a new High-Level Expert Group. Recruitments for the group are now under way, and it should be operational by early next year.

One thing the group will consider is the Commission study on Green Bonds, a market segment that was worth USD 74.3 billion when the report was released at the end of November. These bonds will be a major source of financing to help the EU implement its environmental policy acquis.

Another source will be the Natural Capital Financing Facility (NCFF), a specific facility with the European Investment Bank designed to demonstrate the economic viability of projects related to biodiversity and climate adaptation. The pilot phase will make up to EUR 125 million available for up to a dozen investments. The first two projects to receive funding are now in the final stages of negotiations.

Since Green Week, the Commission has also presented a proposal to extend the European Fund for Strategic Investment to 2020, mobilising EUR 500 billion over the period. EFSI is an important source of funding for Europe's transition to a more circular economy. The proposals also bring EFSI further into line with the goals of the Paris Agreement, as at least 40% of EFSI projects under the infrastructure and innovation window should contribute to climate action in line with the COP21 objectives.

The Commission is also preparing a financing platform in support of the circular economy, as part of a series of new proposals I intend to launch early next year.

With these financial elements now firmly in hand, I want to turn the spotlight to another aspect of our sustainable future - employment, and more specifically the green jobs that will deliver the greener future we need. Next year's Green Week will look at the multiple benefits of green employment - where we are, what it means, and where we need to be with the jobs that will drive the economy of tomorrow.

To underline the continuity, there will be one more novel element next year. The 2017 Green Week website should be up and running in January, and it will continually updated throughout the year with case studies, information about green jobs around the EU and, of course, details about the week's events.

Green jobs are a world of promise, an opportunity to ensure that Europe is ready for the employment realities of tomorrow. I'm sure the new focus will resonate with many around the Union.

I would like to wish everyone a peaceful end of year. I look forward to working and meeting with so many of you as we renew our environmental efforts in 2017.