Empty-Pocketed Europe Unable to Support Green Energy Transition

With most European economies slowing down and even Germany in recession, the Old Continent admits it doesn’t have enough money to implement ambitious energy transition programs that, among other things, aim for “full decarbonization by 2050.”

The numbers speak for themselves: in 2023, China invested 890 billion dollars in the green transition, US investment amounted to 370 billion dollars, while the European Union’s “green spending” did not exceed 24 billion. Statistics based on the proportions between gross domestic product and green spending are much more embarrassing for Europe: last year, to fight pollution and greenhouse gas emissions, China invested three times as much as the USA, which in turn alone invested 10 times (!) more than the 27 EU countries.

In other words, Europe has set itself very ambitious climate goals, but now finds that it lacks even a fraction of the necessary funds. It is estimated that to achieve the goal of the Paris Agreement, “an investment of an astronomical figure of 150,000 billion dollars will be required over the next 30 years.”

“The green model is failing, and fears are growing,” writes the Swiss economic magazine Trend, while politicians and businesses are working creatively to pull the Old Continent’s environmental program out of a dangerous dead end. As has happened many times in human history – the giant Russian “Tsar Cannon” that never fired immediately comes to mind – it was decided that “size matters.”

German engineering company GICON Advanced Environmental Technologies GmbH announced that it will “build the world’s largest wind farm in the federal state of Brandenburg, stealing China’s record.” The German company’s design calls for the wind turbine to reach a maximum height of 365 meters, making it the second tallest structure in Germany. The new wind turbine is expected to be able to power 4000 households for a year. It is a scary thought what kind of noise this new gigantic construction will produce and what negative consequences it will have on the environment. And on the residents of the areas at the foot of the maxi-tower.