Bulgaria, Czechia, Poland and Romania can be important drivers of Europe’s green recovery and climate efforts through clean energy investment, a new report has revealed.
The report, Investing in the Recovery and Transition of Europe’s Coal Regions, carried out by Bloomberg Philanthropies and BloombergNEF (BNEF), looks at the transition of the power sector in the four key Central and Eastern European economies as part of Bloomberg Philanthropies’ partnership with the European Commission’s Coal Regions in Transition Platform.
It shows how current market conditions and existing policies can accelerate the transition away from coal to cleaner, more affordable sources of energy. The BNEF paper maps least-cost transition pathways revealing the untapped economic gain that will result from a speedy transition towards cleaner energy. For these critical countries, the report outlines how the transition to renewables can unlock 54 billion euros in investments and create 45,000 jobs – just the kind of stimulus the economy needs to recover from Covid-19.