According to estimates by Environment Commissioner Virginijus Sinkevicius, around 600 billion euros will have to be invested annually in the EU up to 2030 in order to achieve climate and environmental protection goals. Funding pots have already been set up at EU level and the member states are also doing their part, he said after an informal meeting of EU environment ministers near Stockholm. However, it is crucial that private resources are also mobilized. Among other things, the EU has set itself the goal of reducing harmful greenhouse gas emissions by 55 percent by 2030 compared to 1990.

Subsidies that are harmful to the environment are also to be identified and eliminated. Sinkevicius emphasized that “correct price signals on the market” should ensure “that green companies are not unfairly punished for their innovations and investments”.