The Commission’s executive vice-president for the European Green Deal told journalists that policymakers must act with the same urgency as they would if there was “a comet heading to earth”.
“We can fix this,” Timmermans said. “We have the means, we have the technology, we do have the financial means even if this means investing a couple of hundred billion euros a year.”
However, he refused to be drawn on the exact amount of investment the Commission would push for, saying it would rely on a complex mix “of public funds, of loans, of private funds”. “These are huge amounts of money,” he conceded, but they nevertheless pale in comparison with the cost of doing nothing.
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