Reaching net zero will cost billions more due to interest rate rises

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Vital green energy projects could stall as the cost of financing them has increased

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The world’s green energy transition, which is essential to achieving net-zero emissions and halting climate change, is under threat, as a financial era of rising interest rates has made some projects, like new offshore wind farms, unaffordable. Estimates suggest that Europe must now find an additional €163 billion to reach net zero by 2050, with figures likely to be similar elsewhere in the world.

Over the past 15 years, interest rates have been unusually low, making cheap …

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