France plans to invest an additional €5bn in 2024 to double the pace of reduction in its greenhouse gas (GHG) emissions and to meet its 2030 targets. This will add to the €2bn that were previously announced for the Green Fund that finance ecological projects at the sub-national level, raising total additional investments in energy renovation, public transport, renewable energies and agricultural transition to €7bn in 2024. The source of the investment will be discussed in the 2024 finance draft law.
France, which has to halve its emissions by 2030 (compared to 1990 levels), had reduced emissions by nearly 25% in 2022. In May 2022, it released an emission reduction plan including sectoral targets.
According to the French government, public and private investments in transport, buildings, industry and energy are currently estimated at €120bn/year; a recent report estimates that another €60bn/year (half of which from the State) would be required until 2030 for the ecological transition.
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