Energy

EU wants to spend $1 trillion to help make it climate neutral by 2050

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Ursula von der Leyen, the President of the European Commission.

Philipp von Ditfurth | picture alliance | Getty Images

The EU aims to use 1 trillion euros (around $1.11 trillion) for “sustainable investments” across the coming decade.

Brussels released details of its “European Green Deal” back in December, describing it as a “roadmap” to make the bloc’s economy sustainable. One of the deal’s key aims is for the EU to be climate neutral by the year 2050. 

A key part of the investment plan, which was revealed Tuesday, is something called the “Just Transition Mechanism.” This will aim to to mobilize at least 100 billion euros between 2021 and 2027 in order “to support workers and citizens of…



Source cnbc.com

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