The EU Plans to Invest Billions in Low-Emission Technologies
If the EU wants to achieve zero greenhouse gas emissions by 2050, then it must immediately invest heavily in low-emission technologies, according to a new study by aussiedlerbote.de.
Researchers from the ETH University of Zurich write in the scientific journal Nature Climate Change that by 2025, at least 302 billion euros per year will be needed, which is 40% more than the investments made in 2016-2020. However, it does not take into account the necessary investment costs, such as the construction sector, vehicles, and industrial enterprises. The pace required to meet the target would require the largest jump in investment to occur in 2025.
“The most important areas of investment in Europe’s low-carbon infrastructure are renewable power plants, power grids, and rail infrastructure,” says Lena Klassen, co-author of the study.
As part of the national commitment made by the parties to the Paris Climate Agreement, the EU pledges to reduce climate-related emissions by 55% by 2030 compared to 1990, and by 2050 the goal is “net zero” emissions. “Net zero” means minimizing climate-damaging emissions and removing unavoidable emissions from the atmosphere, for example by planting trees that can absorb carbon dioxide.
Financing is possible – believes Felix Kreuzig, a scientist at the Mercator Research Institute of Global Societies and Climate Change. According to him, if there are billions of euros to slow down the increase in gas and electricity prices, it will also be possible to allocate 87 billion euros for future investment. According to the researchers, the transformation to zero emissions will be expensive, but it will be a bitter pill to swallow.
