Climate neutrality translates into commitments undertaken by various industries, communities and other stakeholders. The European energy sector is already committed to be carbon neutral before 2050.
However, some countries are already fully decarbonised in terms of power generation, while others have to overcome structural preconditions and redefine their entire energy system. For example, Poland is one of the most coal-reliant EU countries, still needing adequate mechanisms to address the challenges ahead.
New EU funding under the next Multiannual Financial Framework for 2021—2027 as well as external investment sources bring opportunities for a successful climate transition. Nevertheless, a just energy transition remains a challenge due to the sheer scale of investments required across Europe. Getting the financing right will determine whether emerging business opportunities become socially sustainable and economically viable over time.
EURACTIV organised this Virtual Conference to discuss how the right financing mechanisms can boost the energy transition to help the EU deliver a green and sustainable recovery for all its regions and consumers. Questions included:
- How to ensure the transition does not end up costing consumers twice – rising CO2 prices and new sustainable investments?
- Should increasing the ambition of reaching higher climate targets imply proportionally increased funding?
- How to make sure that no EU region is left behind in the energy transition?
- How to ensure financing to replace ineffective fossil fuels while maintaining the stability of the power system?
- Are existing EU funding mechanisms sufficient or do we need new ones to cover any remaining investment gaps?
Listen to the full event here:
Financing mechanisms for the energy sector
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