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CLIMATE CASH COW: WHERE EU COUNTRIES CAN GET THEIR FUNDING

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Published on: 18-06-2019 Back

 

  Europe’s green ambitions will largely hinge on being able to finance a transition away from polluting   energy sources. But where will the money actually come from?


  The impact of the transition to net-zero emissions will be positive for the European economy as a   whole, despite the significant additional investments it will require, the European Commission said in its   2050 climate strategy, unveiled in November last year.

  This includes a positive impact on the economy “equivalent to 2% of GDP by 2050,” the EU executive   said. Overall, savings from a reduced fossil fuel import bill “will amount to €2-3 trillion over the period   2031-2050, freeing resources for further potential investments into the modernisation of the EU   economy,” the Commission argued.

  The transition to clean energy will also bring an estimated €200 billion a year in health cost savings, and a net increase of one million jobs, both by 2050, according to EU estimates.
 
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