Bruegel think tank director – Efforts to meet 2050 climate goals must accelerate six-fold; massive investments required

The head of the noted think tank Bruegel, German economist Guntram Wolff, on Monday broached the global challenge of achieving climate goal and a so-called “green transition” while at the same time guaranteeing viable economic growth, speaking at the 32nd Greek Economic Summit (GES2021).

According to the head of the high-rated Brussels-based think, greenhouse gas emissions continue to rise, although the crucial question now is what quantity of C02 is necessary to produce one percentage point of GDP.

Wolff estimated that this ratio has begun to ease by 1.6 percent on an annual basis, or in other words, at a glacial pace.

If the target of zero such emissions by 2050 remains, then he said a “serious acceleration” of efforts is required.

In order to achieved the announced goal, he forecast that accelerated climate-relation actions must increase six-fold, itself a prospect that will require huge investments.