The programme aims to transform Italy’s public and private financial system, aligning it with the Paris Agreement to drive the ecological transition. It will draw from international progress on climate risk disclosure, the adoption of the European taxonomy, and commitments to align public spending and private portfolios with the goals of net-zero emissions, resilience, fossil fuel exclusion and increased green investments. This will be done through a dialogue and the leveraging of international best practices with major national financial institutions including CDP, SACE and Invitalia. The programme will also develop a proposal for environmental tax reform concurrent with the debate on reforming the European Stability Pact and achieving the objectives of the European Green Deal.
How much investment is needed for the decarbonisation of the Italian economy?
A propaedeutic analysis for the revision of the National Energy and Climate Plan (NECP). Estimates of the total investment that Italy needs in order to align with the new European Fit-for-55 targets range between an average of EUR 122 and EUR 134 billion per year. The additional investments needed are therefore EUR 30-42 billion per year higher than estimated in the NECP (2019), and 2-3 times higher than the amount allocated in the NRRP for the green transition in the 2021-26 five-year period (an average of EUR 14.4 billion per year).