[45],[46] The private sector will nevertheless need time to adjust. It may also not invest enough in green projects that have the characteristic of public goods. We thus need to accelerate, sustain and provide a backstop for the green transition through public investments.
As I have previously argued, these investments would be financed more effectively and efficiently at European level than by individual Member States. [47] They could, for example, take the form of an EU climate and energy security fund aimed at supporting the green transition in future years.