Massive investment in green projects is one of the key pillars of the plan. Achieving the REPower EU targets will require an additional investment of €210 billion from private and public sources until 2027.
"The green transformation is a pragmatic step for business. We can fully see that fossil fuel energy prices have the biggest impact on companies that do not invest in energy savings and renewables," comments Filip Gregor from Frank Bold, who is directly involved in the development of European sustainability reporting standards.
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Overall, the Commission's plan confirms that the Russian war in Ukraine has not undermined the objectives of the Green Deal, but rather reinforced them, and that the pace of the green transition will accelerate. For example, Germany has already moved its target of 100% renewable energy supply five years ahead: the 2040 target has become the 2035 target.
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