This could undermine security and prosperity in the broadest sense, damaging economic, food, water and energy systems, and in turn triggering further conflicts and migratory pressures. Overall, failing to take climate action will make it impossible to ensure Europeâs sustainable development and to deliver on the globally agreed UN Sustainable Development Goals. Figure 1. Climate change impacts in Europe 2. A EUROPEAN VISION FOR A MODERN, COMPETITIVE, PROSPEROUS AND CLIMATE NEUTRAL ECONOMY The aim of this long-term strategy is to confirm Europe s commitment to lead in global climate action and to present a vision that can lead to achieving net-zero greenhouse gas emissions by 2050 through a socially-fair transition in a cost-efficient manner. It underlines the opportunities that this transformation offers to European citizens and its economy, whilst identifying challenges ahead.