PARIS – The European Commission presented on Tuesday its new Action Plan for the Planet, which outlines 10 initiatives for a clean economy, including a nine-billion-euro ($10.6-billion) increase in investments in cities, energy and sustainable agriculture in Africa and the European Union neighborhood region by 2020.
The Commissioner for Climate Action and Energy, Miguel Arias Cañete, presented the external investment plan on Africa during the One Planet summit on climate change organized by French President Emmanuel Macron to mark the second anniversary of the Paris Agreement on mitigating global warming.
“From innovative green financing to new partnerships with other countries, investors, cities, states and regions and civil society, Europe is showing the way when it comes to turning the Paris Agreement into action,” said Cañete in a Commission statement.
The nine billion euros are to be primarily used to develop sustainable cities, with particular emphasis on urban infrastructure, transport, water, waste management and energy efficiency.
Cañete said this would create many benefits for both the areas being invested in and the EU, as it could create jobs, accelerate sustainable growth, reduce poverty and improve health.
The other initiatives that form part of the Action Plan for the Planet include developing clean energy for islands, establishing structural support for regions dependent on coal and carbon and investing in clean industrial technologies.