Together EU and US alone are putting forward almost a trillion euros to accelerate clean energy economy, European Commission President Ursula von der Leyen said during the discussions on Mastering New Energy Economics at the World Economic Forum in Davos, Switzerland, Trend reports.
"Clean tech is now the fastest growing investment sector in Europe, doubling its value between 2020 and 2021 alone. And the good news for the planet is that other major economies are also now stepping up. Japan’s green transformation plan aims to have raised up to 20 trillion yen, around 140 billion euros through green transition bonds, the UK, Canada and many others have also put forward the investment plans in clean tech. And of course, we’ve seen the inflation reduction act in the US. They have a $369 billion clean tech investment plan. That means that together EU and US alone are putting forward almost a trillion euros to accelerate clean energy economy," she said.
Ursula von der Leyen noted that this has the potential to massively boost the path to climate neutrality.
"But it is no secret that certain element of the design of the inflation reduction act raised a number of concerns in terms of the some of the targeted incentives for companies. So, this is why we have been working with our US friends to find solutions," she added.