Sustainable investments for the Greece’s green transition

The sustainability of investments and the role of Taxonomy in the common path towards the green transition, especially in the lignite regions of Greece, was the focus of Ioli Christopoulou’s intervention at the Regional Development Conference/RGC 2023.

In the panel discussion on “Green growth as a prerequisite for sustainable development”, Ioli Christopoulou spoke about the European and national financial tools aimed at ensuring sustainable investments. Particular emphasis was put on the EU Taxonomy,  the European Regulation which determines which investments can be labelled “sustainable” with very specific technical criteria, essentially calling upon the Financial Sector to participate in the Green Transition. The target is for financial flows to conform with and contribute to the overall efforts for tackling and mitigating the climate crisis.

Commenting against the inclusion of gas and nuclear investments in the Taxonomy, Ioli Christopoulou explained that the criteria in this case are even stricter, which in practice prevents such investments and gives priority to the green transition.

Regarding the use and allocation of available resources, she pointed out that more than 70 billion will be channelled into the Greek economy from different sources and funds – among which the Recovery and Resilience Fund. She stressed the particular situation in the Greek lignite areas which for years have been fully dependent on lignite activity at the cost of both the health of citizens and the environment, and they now need the support of the State. Given the overall social acceptance of the need for transition and the implementation of existing planning, she put forward the significance of synergies, coordination and the complementarity of resources so that all regions of the country can work together on the green transition, with the lignite regions paving the way.  A prerequisite for this is that all available resources, European and national, such as the Green Fund for the energy transition, are directed towards sustainable investments.

The panel discussion took place on Friday 17 March 2023. Among the panelists:

Prof. Konstantinos Aravossis, Secretary General for Forestry, Greek Ministry of Environment and Energy

Lampros Dimitrogiannis, Deputy Regional Governor Western

Stathis Stathopoulos, Chairman BoD, Green Fund

Susanne M. Nielsen, Human Capital Development & Green Skills, European Training Foundation

Aggelos Sotiropoulos, Scientific Associate ENA

The panel discussion was moderated by journalist Giorgos Papakonstantinou.

You can watch it here: