EC President calls for investment in green technology

European Commission President Ursula von der Leyen calls on countries to invest in green technology. Photo: Delegates attending the G20 Summit in New Delhi, India, September 9. (Source: AFP)

“Climate change is man-made. That means we can solve it. To achieve this, we need innovation, investment in green technology, renewable energy capacity and energy efficiency. This requires much more investment. At the G20, I invited leaders to join the proposal for a global carbon price,” Ms. Leyen wrote on social network X (formerly known as Twitter).

The EC President's comments came amid the ongoing Session 1 of the G20 Summit with the theme "One Earth" to address climate change and environmental issues.

Also at Session 1, South Korean President Yoon Suk Yeol pledged an additional $300 million to the Green Climate Fund (GCF) as part of the country's efforts to help combat climate change. In addition, the South Korean President also called on the G20 to actively contribute to the fund.

GCF is an international organization based in the South Korean port city of Incheon, whose mission is to help developing countries combat climate change.

Many countries are now using carbon pricing to help meet their climate targets either in the form of a tax or under an emissions trading system (ETS), or cap-and-trade system.