The European Union is aiming ambitious targets to reduce CO2 emissions by 55 percent by 2030 and then fully achieve zero carbon emissions. To this end, EU will have to invest as much as EUR 350 billion annually in energy transformation,” noticed Jerzy Kwieciński, Vice President of the Management Board of Bank Pekao S.A., supervising the Corporate Banking, Markets and Investment Banking Division.
Poland’s participation in this project will be more than crucial, as we are among the first five EU Member States in terms of population and the only country in this group that was behind the “Iron Curtain” for decades.
“The enormity of this amount is evidenced by the fact that our entire banking sector generates about PLN 150 billion for corporate credit needs, of which one-third, that is PLN 50 billion, are investment loans. This demonstrates the tremendous role that the banking sector will have in supporting the energy transition,” said Jerzy Kwieciński.
Inl February this year the pace of transformation and the use of indirect energy sources could have been a subject of discussion, Russia’s invasion of Ukraine finally convinced all market players that investing in RES is part of establishing the security and sovereignty of Poland and the entire region.
“Companies already involved in this process and planning further major investments in this area can find an ally in us,” stated Jerzy Kwieciński.