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European green investments have been increasing, but more funding is needed to meet the EU's climate goals by 2030. A study by the Institute for Climate Economics found that an extra €406 bn per year is required. This study is the first to track both public and private investment in key sectors like energy and construction for decarbonisation.
To achieve the EU's target of reducing greenhouse gas emissions by 55% by 2030, €813 bn annually is needed across 22 sectors. Overcoming the investment gap will require regulation, carbon pricing policies, and additional EU funding. However, challenges include the EU's fiscal rules, the role of EU funds in green policies, and debates over new funding sources.
In early February, EU countries agreed to reform spending rules but provided limited space for green investments, influenced by countries like Germany. The European Commission has recommended reducing net greenhouse gas emissions by 90% by 2040 and outlined measures, including implementing the agreed 55% emission reduction framework by 2030 and decarbonising industry using wind, hydropower, and electrolysers.
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