France to invest 20 billion euros in energy transition toward renewables
The environment-related investments, drafted by economist Jean Pisani-Ferry and presented by Prime Minister Edouard Philippe, are part of a 57 billion-euro investment plan to run from 2018 to 2022.
Buildings are responsible for 20 percent of greenhouse gas emissions, so the government plans a 9 billion-euro thermal insulation programme that will focus on low-income housing and government buildings, the government said in a statement.
"The number of badly insulated low-income housing and social housing will be divided by two, and a quarter of government buildings will be renovated in line with environmental norms," it said.
The programme aims at financing the renovation of 75,000 dwellings per year, or 375,000 over the government's five-year term.
The government will also invest 7 billion euros ($8.31 billion) to boost the growth of French renewable energies by 70 percent over the next five years.
Investments will include research and innovation to combat climate change, and will speed up France's transition to low carbon and greater energy efficiency. ■