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The company aims to achieve net-zero emissions by 2050, in line with the ParisAgreement, largely by helping its customers switch to electric vehicles. The company says that it plans to spend more than a billion euros on heat-pump technology and that it will invest roughly 2.5 gigawatts of installed capacity in 18 countries.
But some called for a more fundamental reboot of investment in European innovation especially in cleantechnologies to pursue trajectories that are compatible with its climate transition targets. This becomes a tougher shout when investee firms appear to be betting against their public commitments.
With the looming ParisAgreement goal of reducing greenhouse gas emissions by at least 43% by 2030, nations are adopting different approaches to stimulating their green economy and encouraging sustainable investment. Clearly, the US is doing a better job at turning words into action.
According to energy regulator Ofgem , as of last year, 220 projects awaiting connection to the grid by 2026 – with only half of them having obtained the required planning permission and start dates being pushed back by up to 14 years in some cases. He pointed to the many solar grid delays that have hindered progress.
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