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Green green sub indo4/29/2023 ![]() Since the first issuance by the European Investment Bank (EIB) and the World Bank in 2007, the green bond market has enjoyed a remarkable growth rate. If seized correctly, it represents an opportunity to foster green finance on the continent. The EGD’s innovative work on a green bond standard and a taxonomy for sustainable activities is shaking the Western financial world. What it needs are significant private-sector investments. Africa possesses an abundance of opportunities to tap into renewable energy, a dynamic demography, and vibrant economic prospects. Yet, the positive effects of the EGD need not stay limited to Europe. By 2050, Europe hopes to become a net-zero emitter. Europe has committed to reducing its net greenhouse gas emissions by at least 55 percent by 2030, compared to 1990 levels. ![]() The EGD is the European Union’s ambitious plan to create the first emissions-neutral continent that is simultaneously competitive economically and ready to face the climate change challenge. Can natural gas and nuclear power be green? “Sometimes, and for a limited period of time,” said the European Parliament on July 6, as part of an ongoing negotiation over the EU taxonomy, a key component of the European Green Deal (EGD). ![]()
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