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Editorials

The war in Ukraine unders­cores that as we move toward a lower-carbon future, we need to stra­te­gi­cally refo­cus on climate-friendly infra­struc­tures are needed to ensure energy and food secu­rity. Well-plan­ned green infra­struc­ture projects not only increase poten­tial output growth and improve resi­li­ence, but also can also help reduce the carbon foot­print asso­cia­ted with econo­mic progress.

Public invest­ment alone will not be enough to close the esti­ma­ted green invest­ment gap. Current plans for infra­struc­ture spen­ding in Europe appear to fall short (from 1.6% and 1.3% of GDP per year in Spain and France, respec­tively, to 0.6% and 0.4% in Italy and Germany, respec­tively), espe­ci­ally in the elec­tri­city and networks sectors, where invest­ment needs are grea­test. Howe­ver, public invest­ment can serve as a cata­lyst for grea­ter private parti­ci­pa­tion by long-term inves­tors in the design, cons­truc­tion, and opera­tion of infrastructure.

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