Sabine Mauderer: Green energy and green finance for a sustainable Europe
1 Introduction
Ladies and gentlemen,
We are experiencing war in Europe. And we are seeing inflation of 10.7 percent in the euro area. This begs the question:
Is this the time for green? Do we have the means for transformation, for a Green Europe? My answer to this question is clear: Yes, it is high time for a sustainable Europe!
Why? There are two main reasons:
First: Climate change is speeding up at unprecedented rates. Last summer, with its record-breaking heat waves, was a case in point. Extreme weather events are causing damage that runs into the billions.
According to Eurostat, over the past decade, climate-related economic losses in the EU amounted to 145 billion euro.
The second reason for a sustainable Europe is the geopolitical shift. This has sent energy prices soaring – a major driver of the global inflation surge. Energy price inflation came to 41.9 percent in October. So, Europe is paying the price for its dependence on fossil fuels.
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