Financing the energy transition: where is the money?

Financing the energy transition: where is the money?

Incoming Commission President Ursula von der Leyen’s pledge to turn Europe into “the world’s first climate-neutral continent” means efforts to green the economy are set to go into overdrive. But where will the necessary funds come from to back the energy transition? Investments in low-carbon energy and related infrastructure will have to increase from an annual 2% of GDP to at least 2.8%, according to the European Commission’s long-term climate strategy, which aims for net-zero emissions by 2050. That means an estimated €500-600 billion extra per year. For some like…

Read More

The need for a progressive EU-ACT partnership to tackle common global challenges

The need for a progressive EU-ACT partnership to tackle common global challenges

The international scenario is rapidly changing, but not necessarily in a positive way. That’s why there is a need for a progressive partnership between the European Union and the Africa-Caribbean-Pacific countries, writes MEP Carlos Zorrinho. Carlos Zorrinho is a member of the Group of the Progressive Alliance of Socialists and Democrats in the European Parliament as well as co-president of the Africa Caribbean Pacific (ACP)-EU Joint Parliamentary Assembly. The regrettable disengagement policy from the multilateralism context put forward by US President Donald Trump and summed up in the slogan ‘America…

Read More