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EU Investment Plan Aims for Carbon Neutrality by 2050

Lisa Bryant

   PARIS - The European Union rolled out a massive, trillion-dollar
   investment plan Tuesday to deliver on promises to make Europe the first
   carbon-neutral continent by 2050.

   The EU would designate one-quarter of its budget to fighting climate
   change over the next decade. The trillion-dollar price tag would come
   from a mix of EU and national government funds, as well as investment
   from the private sector.

   It targets the EU's ambitious goal of ensuring greenhouse emissions
   reach net zero in 30 years. European Commission President Ursula von
   der Leyen, who late last year announced that goal -- a plan she calls
   the "Green Deal" -- says the investments are for the climate, as well
   as EU citizens.

   "It will be invested in the huge transition ahead of us, which consists
   of upskilling people in new jobs, clean technologies, green financing,
   new procedures," she said.

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