4 days ago
EU Climate Chief Expects Pension Funds to Help Revamp Grids
The European Union's climate chief expects to attract the financial firepower of some of the bloc's biggest pension funds to help modernize power grids that are key to the green transition.
As part of a new budget for 2028-2034, the bloc on Wednesday outlined a €410 billion ($475 billion) fund to help EU industries compete with overseas peers. Climate Commissioner Wopke Hoekstra told Bloomberg he's confident that will entice Dutch and Danish pension funds to invest in the region's electrification. He also said the extra funding should help convince skeptical countries to back a proposal to cut emissions by 90% by 2040.
