Climate action is the greatest economic opportunity for the globe to achieve countries’ sustainable growth and to protect the earth and the people’s life in the current decade, said Ursula Von Der Leyen, the president of the European Commission.
Der Leyen made her comments during the “investing in climate action” virtual event held on Wednesday, attended by Ahram Online, and organised by Project Syndicate in collaboration with the European Commission and the European Investment Bank (EIB).
Der Leyen added that global emissions are expected to rise by 55 percent in the coming decade, which represents a serious situation that needs to be addressed.
“We must act now before it is too late,” said Der Leyen.
She noted that green investments have become one of the most attractive investments for investors and such investment opportunities should be tapped by businesspersons for the sake of reducing greenhouse emissions that contribute to the ongoing climate change issue.
Meanwhile, President of the EIB Werner Hoyer said that the European Green Deal is a comprehensive and ambitious plan that aims to dealing with climate change.
He added that the deal helps Europe reach no net emissions of greenhouse gases by 2050, adding that Europe is responsible only for 10 percent of global emissions.
He also stressed that the current time is a unique opportunity for all countries globally to go green, to depend more on renewable energy resources, and to establish sustainable mobility infrastructure.
In addition, countries should work on changing people’s mindsets and to increase awareness about such a serious issue that touches our lives daily, according to Hoyer.
EIB, which is also the EU Climate Bank, has committed to support €1 trillion of investments in climate action and environmental sustainability in the next decade.
The event speakers agreed that the current decade, till 2030, is the make-or-break decade, stressing that the steps that are taken between now and 2030 will set whether the world can avert the most devastating effects of climate change in the future.
They said that climate change demands determined action, significant investments, and global cooperation to deal with the issue – going far beyond current levels.
They also stressed that investing in climate change alleviation and climate resilience will reinforce the global recovery from the COVID-19 crisis and lay the foundation for a sustainable future.