CO2: 413.93 ppmThe European Union and collaborating countries are likely to surpass a current target to install a combined 80 gigawatts (GW) of renewable hydrogen electrolysers by 2030, EU climate policy chief Frans Timmermans said on Monday.
The new government has big plans to modernize the economy and switch to renewable energy. But the question remains how it will pay for it.
Germany's next government is working on a 2021 supplementary budget to pump more than 50 billion euros ($56 billion) into its climate fund which could be spent over the coming years to speed up the transition towards a green economy, sources said on Thursday.
Germany's incoming government will step up climate protection efforts with far-reaching reforms, including a faster expansion of renewables and an accelerated coal exit, as Europe's top economy intensifies efforts to phase out fossil fuels.
Britain will invest 20 million pounds ($27 million) a year in tidal power via its renewable energy auction scheme, it said on Wednesday, part of a drive to produce all of its electricity from renewable sources by 2035 and cut carbon emissions.