The European Commission has announced an ambition to generate €1 trillion to finance its European Green Deal.
The commission threw down the gauntlet to EU member states and the European Parliament yesterday by emphasizing the urgency of pushing through the climate change funding arrangement as talks over the bloc’s next long-term budget near completion.
In an announcement of the financing ambition released by the commission, new president Ursula von der Leyen said: “The transformation ahead of us is unprecedented. And it will only work if it is just and if it works for all. We will support our people and our regions that need to make bigger efforts in this transformation, to make sure that we leave no one behind. The Green Deal comes with important investment needs which we will turn into investment opportunities. The plan that we present today, to mobilise at least €1 trillion, will show the direction and unleash a green investment wave.”