The public and private sectors are investing millions of euros more each year in green technologies, however the steps are still slow and few in number to find and disseminate new products and, furthermore, the prices of green technologies are still too high.
EIB President and Bill Gates recently met to discuss ways to accelerate technology growth, lower costs and help sustainable projects reach commercial stage in less time. President Hoyer told Mr. Gates that the EIB is looking for more long-term partnerships to combat climate change.
In this regard, a new initiative is now at stake: a global green technology funding program called Catalyst. This program was created by Breakthrough Energy, an investment vehicle that Mr. Gates has put together to attract more money for projects that reduce greenhouse gas emissions.
Mr. Gates said he hopes the Catalyst program will lower the prices of green technologies and accelerate innovation, and the EIB is expected to play a key role in finding and organizing funding for these new Catalyst program investments.
Read the original document: A new partnership for our 2050 climate goals
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