ECB has warned that the EU risks missing its 2030 climate targets unless it increases investment in the green economy by an estimated €558 billion annually.
Clean electricity generation in Europe reached unprecedented levels. In the first half of 2024, renewables accounted for over 50% of total power generation.
To reach the EU's climate goals, emission reduction efforts will need to be complemented by measures to remove carbon from the atmosphere, announced the European Parliament.
Municipalities report difficulties in securing experts with environmental and climate skills, as well as technical and engineering expertise. The European Investment Bank unveils 2022 Municipality Survey findings.
The European Parliament votes to reduce member states' emissions by 40%. All EU countries must reduce emissions by 2030 compared to 2005. Reduction targets for each member state are based on GDP per capita and cost-effectiveness.
A significant portion of EU grants is allocated to support sustainable initiatives, further driving the rise in these types of loans.
Polish energy group Orlen announced that its subsidiary, Energa Operator, has secured a €1.8bn loan to modernize the power grid, preparing it for the integration of renewable energy sources.
OMV Petrom announced the commencement of construction for a production unit dedicated to sustainable aviation fuel (SAF) and renewable diesel (HVO) at the Petrobrazi refinery.
The European Investment Bank (EIB) is providing a €240 million loan to Slovakia for co-funding of EU-supported green and digital projects across the country.
In line with its 2030 ambition to decarbonize the hydrogen used in its European refineries, TotalEnergies has signed agreements with Air Liquide to develop two projects in the Netherlands.
