A new report by EIT InnoEnergy, the innovation engine for sustainable energy supported by the European Institute of Innovation & Technology (EIT), a body of the European Union (EU), has revealed that its sustainable investment portfolio has the potential to save 2.1 gigatonnes of CO2e by 2030, and deliver 831TWh of clean energy over the same period, leading energy transition goals.
The news comes as the EU continues to ramp up work to meet its target to reduce net greenhouse gas emissions by 55% by 2030, requiring breakthrough and scalable technologies and innovations. This in turn calls for vast upskilling and reskilling to not only grow, but reshape the energy workforce. EIT InnoEnergy reports that its sustainable investment portfolio has directly and indirectly created over 40,000 jobs since its 2010 inception.
The portfolio has generated over €771m in revenue since 2010, an increase of 132% from 2020. Revenue for 2030 is forecasted to be €110 billion.
“It is incredibly exciting to see the tangible progress and impact our portfolio companies have delivered to support the transition to a green economy and achieve climate targets. From the 40,000 jobs we and our portfolio companies have created – to growing our potential to save 2.1G tonnes CO2e accumulatively by 2030, we are continuing to support expansion across the three industrial value chains we lead: battery storage, green hydrogen and solar photovoltaics. As we broaden our horizons, including with new projects in the US, we look forward to continuing to support our portfolio companies and new sustainable energy innovations to realise or even surpass expected achievements.”