You are here

EU countries lack investment strategy in shift to low-carbon economy: EEA

Thursday, July 6, 2017 - 16:17

11a-eu.jpg
Most European Union countries lack a clear strategy for redirecting public and private funds towards more sustainable investments as they shift to a low-carbon economy, the European Environment Agency (EEA) said Thursday.

[COPENHAGEN] Most European Union countries lack a clear strategy for redirecting public and private funds towards more sustainable investments as they shift to a low-carbon economy, the European Environment Agency (EEA) said Thursday.

"Only a few European countries have turned their climate and energy objectives into concrete investment needs and plans to date," it said as it released a new study.

It noted that only Belgium, the Czech Republic, Estonia, France, and to some extent, Germany have a national strategy in place to track spending related to climate mitigation and adaption.

The EU estimates it should have investments of around 177 billion euros (S$277.581 billion) per year from 2021-2030 to meet climate and energy targets, which will require a doubling of current investments in renewable energy and energy efficiency.

sentifi.com

Market voices on:

"The study identifies a lack of country-level preparedness and information regarding estimated total investment needs, as well as their current and planned expenditure volumes for climate and energy purposes," the EEA said.

REUTERS

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom