“Renewable sources, grids, and minerals— all require significant investment. The European Union remains the largest source of climate finance, providing $31 billion annually," European Commissioner for Climate Action Wopke Hoekstra stated during the Ministerial Dialogue: Scaling up Investment for Tripling Renewables and Doubling Energy Efficiency, APA-Economics reports.
He emphasized that public funding alone is not enough, and it is crucial to attract additional investments to meet the needs of the private sector: “Today, 760 million people lack access to electricity, particularly in Africa, which holds great potential for clean energy, our job is to support them by reducing the cost of capital,” the Commissioner added.
“Tripling renewable energy capacity and doubling energy efficiency are ambitious but achievable goals. The EU is ready to support this,” he concluded.
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