WASHINGTON: The European Union, China, India and several other countries teamed up on Friday to coordinate rules and standards for trillions of dollars of private and public"green" investment needed over decades to prevent irreversible climate change.
"While public funding will be vital for the transition, it cannot pay the massive bill alone. We also have to tap into private capital to raise the trillions needed," he said. The European Union has agreed to substantial reductions of carbon emissions by 2030 and the Commission wants the bloc to reduce them to zero by 2050 to help stop global warming, the rise of average worldwide temperatures.
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