Reaching net zero will cost billions more due to interest rate rises
Very important inexperienced power initiatives may stall as the price of financing them has elevated
Summary Aerial Artwork/Digital Imaginative and prescient/Getty Photos
The world’s inexperienced power transition, which is crucial to reaching net-zero emissions and halting local weather change, is underneath risk, as a monetary period of rising rates of interest has made some initiatives, like new offshore wind farms, unaffordable. Estimates counsel that Europe should now discover an extra €163 billion to achieve web zero by 2050, with figures prone to be related elsewhere on this planet.
Over the previous 15 years, rates of interest have been unusually low, making low cost …
