According to news from the European Commission, forecasts for the Greek economy are likely to be revised upwards. This, highlighted news the commission is considering the country for eligibility for a part of a huge green fund for investing in sustainability.
The EU Commissioner for Economy recently presented the Commission’s European “Green Deal,” an investment-growth plan expected to mobilize more than €1.0 trillion euros in European, national and private capital over the next decade. He revealed the road map of a European Union that is transforming based on green growth, a course in which Greece could emerge as a “green champion”.
According to the commissioner, Greece has significant comparative advantages, such as a geographical position, climate, renewable energy sources, green tourism, and the agri-food sector. Gentiloni was quoted as saying “It is important to seize the opportunity,” and that the Fair Transition Mechanism will help Greece in its efforts to remove dependence on lignite.
Gentiloni also said that “tackling climate change is the defining task of this Commission, and probably of those to follow, too.” The commissioner presented data revealing that a quarter of the EU budget for the next seven years will head to tackling climate issues. The EU intends to invest a total of one trillion euros in the green fund over the next decade. He also says it will take as much as €260 billion euros per year to come close to mitigating climate disasters.