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EU Commission eyes ‘Juncker plan on steroids’ to boost green investments

(EurActiv, 22 Feb 2024) The next European Commission that will be appointed after June’s EU election will focus on implementing green laws adopted in the current mandate and boost investments in clean tech to meet the EU’s 2030 climate goals, a top official has said.

Kurt Vandenberghe, director general at the Commission’s climate action department, made the remarks on Wednesday (21 February) at the launch event of a report by the Institute for Climate Economics (I4CE) which explored the “European Climate Investment Deficit”.

According to the report, a gap of €406 billion remains to be filled annually in order to meet the EU’s 2030 climate goal of reducing net greenhouse gas emissions by at least 55% below 1990 levels.

Vandenberghe did not dispute the figure, saying it will be up to the next EU executive appointed after the June European elections to ensure the targets are met.

“We will need to reduce emissions at triple the rate that has been done over the last 10-15 years. And that requires massive investments,” Vandenberghe admitted.

“The next Commission in my view will need to be an investment Commission,” he added.

“The way I would like to put it is that we need a kind of Juncker plan on steroids for the next Commission.”

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EurActiv, 22 Feb 2024: EU Commission eyes ‘Juncker plan on steroids’ to boost green investments