Europe needs €350bn investment over nine years

An additional €350bn in investment is required in various industries over the next nine years to curb and mitigated the climate change issues faced in different regions across Europe.

This was revealed in a statement by the European Investment Bank (EIB) chair on climate change policy Professor Jos Delbeke. 

Speaking at a joint Institute of International and European Affairs and Environmental Protection Agency event, Delbeke noted that while the situation on ground is in many ways similar to the post-war reconstruction after World War II, a key difference is that the continent is better-equipped.

European countries adversely affected by the war rebounded strongly, defying the forecast by pessimists withmany so-called “economic miracles” occurring all over the continent.

Prof. Delbeke believes that the European Green Deal is a step further from a miracle, he called it an “economic strategy”.

“For the first time, there is an emphasis on the economic opportunities of decarbonisation,” he added.