Green growth plan for islands

Endowed with 25 million CO2 emission rights from the EU's greenhouse gas emissions trading system, which at current prices are valued at 1.6 billion euros, the Islands Decarbonization Fund is set to get to work, leveraging investments of €3.8 billion for the 2025-2032 period.

The fund's available resources, if the forecasts for the increase in the price of rights in the next two years, when they will be auctioned, are taken into account, could reach almost €3 billion, raising the total investments respectively to over €7 billion.

The establishment of the fund proceeded with the signing of a tripartite agreement between the Ministry of Environment and Energy, the European Commission and the European Investment Bank on Thursday on Naxos, in the presence of Prime Minister Kyriakos Mitsotakis. The fund will finance sustainable investments to strengthen the energy autonomy...