During the SuperReturn Energy Transition event, Alexander Romanishyn, Strategy Director at Razom We Stand, discussed important aspects of energy transition and investment opportunities. The panel emphasized the EU's strategy to achieve ambitious climate targets by utilizing public funds, carbon pricing, regulations, and private capital.
Key panel highlights include:
- EU aims to meet these ambitious targets through leveraging a combination of public funds, carbon pricing, regulations and private capital. And as exmapes provide some numbers:
- 37% of the €672.5 billion Recovery and Resilience Facility under Next Generation EU is being spent on climate-related objectives.
- Horizon Europe has a budget of €95.5 billion for 2021-2027, with 35% earmarked for climate action
- Economic savings from reducing expenditure on fossil fuel imports, estimated at around €2.8 trillion from 2031-2050 under the 90% emissions reduction target
- Potential funds freed up by divesting from Russian fossil fuel investments, promoting strategic autonomy. The total investments by financial institutions in Russian fossil fuel companies amounted to around $26 billion
- The European Commission has established a €50 billion Ukraine Facility. Notably, 20% of Pillar 1 and 2 is earmarked for green projects, providing a substantial boost to sustainable development in Ukraine's recovery and reconstruction.
Isabella da Costa Mendes Tove Larsson Matt Cunning