EU is investing in green future technologies together with Bill Gates

GLASGOW (dpa-AFX) – The EU wants to invest in future technologies such as the production of green hydrogen together with Microsoft founder Bill Gates and other private investors. “If you look at these innovations and their production costs, they are often not competitive,” said EU Commission President Ursula von der Leyen, who presented the partnership in Glasgow on Tuesday. “So we’re investing to expand the market for these technologies.”

A total of 820 million euros from various sources are to be mobilized between 2022 and 2026 in cooperation with the European Investment Bank: According to the plans, three euros of private investments are to flow for every euro of tax money. The development of technologies for more climate-friendly flying and for removing greenhouse gases from the atmosphere should also be promoted. The path to climate neutrality will be “the greatest challenge facing mankind,” said Bill Gates in Glasgow. “Getting there will require not only new technologies, new laws and new markets, but also significant investments and partnerships between the private and public sectors.”

The $ 100 billion pledge, which the industrialized countries reaffirmed in the Paris Climate Agreement, to support developing countries in the fight against the climate crisis every year, is expected to be reached only three years later than announced. EU chief von der Leyen pleaded for working at the climate summit to close this gap as quickly as possible. Gates added that even that $ 100 billion is only a fraction of what is needed. It therefore needs investments in important innovations in order to make them more cost-effective for everyone./swe/DP/he

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