The transformation ahead of us is unprecedented – the transition to a climate-neutral economy will require both political commitment and massive investment. To show the direction and unleash a ‘green investment wave’ the European Commission (EC) hopes to mobilise at least €1 trillion, over the next decade, by creating an enabling framework to facilitate and stimulate both public and private investments. A key role is expected to be played by the European Investment Bank (EIB).
The aim is to become the world’s first climate neutral continent by 2050, the measures and an initial roadmap for which have been presented in the European Green Deal. It is framed as the EU’s new growth strategy – sustainable finance will be put at the heart of the financial system, to drive investments in green technologies, sustainable solutions and new businesses and to encourage green budgeting and procurement.
On the production and use of energy, further decarbonisation of the energy system is stated as critical. Efficiency gains must be prioritised, and the power sector must become largely based on renewable sources, complemented by the rapid phasing out of coal and decarbonising gas. Gas2Wire is focused on delivering the latter whilst supporting the former with the introduction of new infrastructure. Our projects will contribute toward a secure and affordable energy supply – we are building the infrastructure for a sustainable future.