EU Spends$1.2 trillion on Green Projects
Big Bucks to Back Green Energy & Climate Projects
Source: Renewable energy stock image
"Green Roadmap" to Greener Environment
Europe is putting big money behind its .commitment to a greener future. European Union governments have approved $1.2 trillion in funding, which they call a "green roadmap" for the European Union's lending. This new funding plan will stop financing of fossil fuel projects and move the lending over to green projects, such as renewable energy. It's the European Investment Bank's Climate Bank.
$1.2 Trillion For This Decade
The $1.2 trillion in funding will be spent by 2030. All the financing activity will be in sync with the Paris Climate Accord goals. Projects particularly in focus are those related to climate, biodiversity and sustainably focused projects. The European Union has stated on many occasions that it desires to "lead on the fight of Climate Change" and play a leading role on decarbonization and building a green, resilient economy. It is now backing that commitment with big money.