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Italy's cabinet approves green transition investments
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Italy's cabinet approves green transition investments
by AFP Staff Writers
Rome (AFP) Nov 27, 2023

Italy's cabinet on Monday adopted a decree aimed at boosting renewables, improving the country's energy security and supporting energy-intensive businesses.

"We want to unlock the great potential of our country, to make it a reference point on renewables," Ecological Transition Minister Gilberto Pichetto said in a statement.

The measures, which include cutting red tape around green energy projects and devoting state-owned areas to wind farm production, are "worth 27.4 billion euros ($29.9 billion) in investments", he said.

"We want to accelerate the development of renewables towards the 2030 objectives," he said.

The decree comes just days ahead of a pivotal UN climate summit in Dubai on preventing the planet's climate from tipping unstoppably out of control.

To keep global warming at an average of 1.5C above pre-industrial temperatures, greenhouse gas emissions must drop 43 percent by 2030 from 2019 levels, according to the UN's climate body.

The decree text adopted Monday will "push regions to build renewable energy infrastructure" and includes incentives for some 3,800 energy-intensive businesses -- such as those in the glass and textile industries -- to install green energy sources.

In terms of off-shore wind, "state-owned maritime areas" in two ports in southern Italy would be selected for "the production, assembly and launching of floating platforms", it said.

The decree also declared the construction and operation of onshore LNG terminal projects to be "non-deferrable and urgent strategic interventions of public utility", Pichetto said in a statement.

That is expected to speed up work on two onshore liquid natural gas terminals in southern Italy, in Porto Empedocle in Sicily and Gioia Tauro in Calabria.

Critics say new gas infrastructures are a waste of resources and undermine decarbonisation policies.

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