Greece Prepares for Transition to Green Economy with Incentives

Photo © Maria Theofanopoulou

In efforts to transition smoothly and quickly to a greener economy, Greek Energy and Environment Minister Kostis Hatzidakis said this week that the government was planning to introduce incentives for the support of environmentally-friendly investments.

The minister underlined the multiple benefits of Greece’s transition to a greener economy during the presentation on Monday, of the national plan for energy and the climate, currently open for public consultation.

Hatzidakis said the transition will create new opportunities in the energy transport, construction, tourism, shipping, and agriculture sectors, improving at the same time the standard of living of Greek residents.

Referring to the importance the EU has placed on the “green deal”, Hatzidakis noted that Greece is aiming even higher.

“Greece does not want to just follow the rest of the continent, but to be at the forefront of the transition to a new economic and social model,” he said.

Photo Source: @Kostis Hatzidakis

Key to achieving this, according to Hatzidakis, is setting and meeting higher goals such as RES penetration and energy saving initiatives; ending the country’s reliance on lignite by 2028; extending incentives to the financial sector to support sustainable green investments as well as green innovation; addressing climate change with real solutions and limiting Greece’s carbon emissions; ensuring more effective waste management; and transitioning to a circular economy.

In order to meet the targets set in the plan, an estimated 43.8 billion euros in total investments are necessary.