News

2019.12.14 10:00

Lithuania not ready to 'swallow huge green economy bite' – president

Saulius Jakučionis, BNS2019.12.14 10:00

Lithuanian President Gitanas Nauseda, currently in Brussels, said on Friday he would seek to ensure significant EU funding for the implementation of goals aimed at fighting climate change.

"Our country is not ready to immediately swallow such a huge green economy bite and therefore we will need assistance, significant assistance," Nausėda told journalists following EU leaders' discussions.

EU leaders, except for Poland, earlier backed the move to a climate-neutral economy by 2050. Based on Lithuania's calculations, the country will need around 14 billion euros by 2030 for climate goals, and around 41 billion euros by 2050.

Read more: Lithuania needs to spend €14bn on climate change over next decade, president says

"The money will go to economic sectors that will become less polluting and more effective," Nausėda said. "That money will help increase cost efficiency [and] a higher long-term financial return."

According to the Lithuanian president, other areas in the EU budget should also be viewed in the climate change context, for example, when distributing cohesion funds.

During the ongoing budget negotiations, Lithuania seeks to prevent deep cuts to the cohesion funds for Eastern and Central Europe than currently proposed by the European Commission and the Finnish presidency.

Read more: East and west battle over EU budget