EN 
SK 
DE 
FR 
HU 
PL 
The European Union will need an investment of 1.5 trillion euros ($1.6 trillion) a year to meet its goal of net zero emissions by 2050, research backed by EU lawmakers said on Monday.
The European Commission is set to recommend next week that the EU cut net emissions by 90 % by 2040 compared to 1990 levels, outlining the huge upfront investment needed to put Europe on the path to net zero emissions until 2050.
Most of the funding needed for net zero - €1.16 trillion a year - could be secured by redirecting existing spending, much of it on polluting activities, according to research by the Institut Rousseau think tank commissioned by Green EU lawmakers. The researchers said that would mean a huge divestment from areas such as combustion engine cars, fossil fuel production and new airports, and a jump in investment in public transport, building renovations and the expansion of renewable energy. ((Kate Abnett)
