Green investment can make up for the jobs lost in Europe in the crisis

By: Trademagazin editor Date: 2020. 11. 02. 11:16

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If implemented, the upcoming green projects analyzed by EY would create almost 3 million jobs in the European Union. Their implementation is also hampered by the economic impacts of COVID-19 and regulatory issues.

EY analyzed a thousand prepared green projects in EY’s recent study (The Green Covid-19 Recovery and Resilience Plan for Europe). If implemented, these projects could create around 2.8 million jobs in the European Union and help to achieve the Union’s climate goals. It is estimated that the projects examined, will reduce CO2 emissions with 2.3 gigatonnes and could contribute to EU climate targets. By comparison, the state of New York produces “only” 150 million tons of CO2 in a full year. Achieving results will require around 200 billion euros in public and private funding in the EU-27.