Europe will need to invest €800bn by 2030 in its energy infrastructure alone to meet climate goals and keep its industry competitive, a new report has found.
The European Round Table for Industry, an influential Brussels lobby group, said in a report published Tuesday that the EU targets of reducing and reaching net zero CO₂ emissions by 2050 would require massive investments in power grids, energy storage and carbon capture facilities.
While the €800bn investment tag was necessary to meet the 2030 climate targets, a total of €2.5tn was needed for the bloc to complete the green transition by 2050 — and stay in business.
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