Financing the transition: seizing opportunities for a green recovery

Over five years ago the world’s leaders signed the Paris Climate Agreement. That set a clear limit for global warming, namely a maximum of 2°C or preferably 1.5°C. Many countries translated the Paris objectives into specific greenhouse gas reduction targets enshrined in climate laws. The EU aims to be climate-neutral in 2050, with an intermediate target of a reduction of at least 55% of CO2 in 2030 compared to 1990. This is a more ambitious target than the Netherlands has set at national level in the Climate Act (-49%). Despite these clear, ambitious climate targets, the current efforts are still insufficient.