Wil Sillen's post

We have a 'Green Finance Hole': As much as €406 billion extra must be invested annually to achieve the European climate goals for 2030. Although green investments have increased in recent years, they currently lag behind the 2030 target, the researchers found. According to research by the Institute for Climate Economics (I4CE), at least €813 billion is needed annually across 22 economic sectors to achieve the EU's climate target of -55% by 2030. According to I4CE, closing the Green Finance Hole requires a comprehensive approach with regulations, a higher CO2 price and greater government investment in climate. 💸 This is of course a lot of money, but the costs of inaction are about 4 times greater than the costs of ambitious climate policy! Read more about the report here:

#climate #sustainability
  • Munene Mugambi

    8 w

    These funds can be accessed from fossil fuel subsidies that countries fund all the time and do not seem to run out of money. We have to take the right step at these stages to ensure renewable energy succeeds

    • zelda ninga

      8 w

      @munene_mugambi That's true globally fossil fuel subsidies have risen $2 trillion to $7 trillion, that's allot of money and can be put to good use.

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