The European Green Deal provides a roadmap with actions to boost the efficient use of resources by moving to a clean, circular economy. It will also fight climate change, reverse biodiversity loss and cut pollution. The European Green Deal covers all sectors of the economy, notably transport, energy, agriculture, buildings, and industries such as steel, cement, ICT, textiles and chemicals. Achieving the current 2030 climate and energy targets is estimated to require €260 billion of additional annual investment, representing about 1.5% of 2018 GDP. To meet the objectives of the European Green Deal, in early 2020 the Commission will present the Sustainable Europe Investment Plan. Moreover, at least 25% of the EU's long-term budget should be dedicated to climate action, and at least 30% of the InvestEU Fund will contribute to fighting climate change. To encourage the private sector to contribute to financing the green transition, the Commission will present a Green Financing Strategy in 2020. The Commission will also present within 100 days the first ‘European Climate Law'.