Greece aims to transition its economy to a “green” one by 2050, requiring investments of 436 billion euros as outlined in a government blueprint. The National Plan for Energy and Climate emphasizes the end of subsidies and the focus on high-yield investments to ensure sustainability.
Minister of Environment and Energy Thodoros Skylakakis emphasized the need for realistic financial approaches, highlighting the mistakes of past subsidies which led to the closure of inefficient plants like the Ptolemaida 5 lignite unit. The plan acknowledges the challenges of climate change adaptation in the absence of a comprehensive European policy.
Yannis Stournaras, governor of the Bank of Greece, emphasized the urgency for coordinated action to address climate change impacts. With increasing costs predicted in the absence of measures, the bank has been committed to sustainability for over a decade.
This ambitious plan requires a shift towards sustainable investments and strategic decision-making to ensure Greece’s successful energy transition and adaptation to the changing environmental landscape.