It is “completely clear” that climate protection cannot be financed from the state budget, said Environment Minister Leonore Gewessler (Greens) on Tuesday at the financing exchange of the Climate and Energy Fund in Vienna. According to the minister, private financing and investments are necessary for a “better future”. You can’t save the climate with money alone, “but neither can you without money”.
Investing money in green projects should become easier, says general director of the climate and energy fund Bernd Vogl. “We need to invest relatively quickly in renewable energy sources and all technologies associated with them.” Further financing the fossil energy system is as costly as switching to renewables, Vogl said. “The big challenge is actually that we redirect investments to this conversion and stop investing in the old technologies.”
Ten financial companies are committed to climate friendliness
“The need for us to mobilize private capital for climate protection and for the energy transition has been on our minds from the start,” said the environment minister. The “Green Finance Agenda” will be published “soon”. This is “the strategy for what we as a federal government, as a state, are doing in this area,” Gewessler said. An example of this is the “Green Finance Alliance” launched in 2022. According to the information, it concerns ten financial companies that have committed to align their core activities with the Paris climate goals and also to make the company’s operations climate-friendly.
The one-day financial fair “The Green 100” is an event of the Climate and Energy Fund and is taking place for the first time. 85 exhibitors present their projects and companies. Think of financiers, but also of capital-seeking companies and start-ups.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
