EIT InnoEnergy's Impact Report: achieving climate targets for a green economy
The rapid and strategic expansion of EIT InnoEnergy’s portfolio has the potential to save 2.1 gigatonnes of CO2e accumulatively by 2030 – equivalent to 8.2 million 300-passenger plane trips from Paris to New York.
According to the latest Impact Report by EIT InnoEnergy, its sustainable investment portfolio could deliver 831TWh of clean energy by the end of the decade, equal to consuming Qatar’s entire 2022 oil production.
The news comes as the EU continues to ramp up work to meet its target to reduce net greenhouse gas emissions by 55% by 2030, requiring breakthrough and scalable technologies and innovations. This in turn calls for vast upskilling and reskilling to not only grow, but reshape the energy workforce. EIT InnoEnergy reports that its sustainable investment portfolio has directly and indirectly created over 40 000 jobs since its 2010 inception.
It is incredibly exciting to see the tangible progress and impact our portfolio companies have delivered to support the transition to a green economy and achieve climate targets. From the 40 000 jobs we and our portfolio companies have created – to growing our potential to save 2.1G tonnes CO2e accumulatively by 2030, we are continuing to support expansion across the three industrial value chains we lead: battery storage, green hydrogen and solar photovoltaics. As we broaden our horizons, including with new projects in the US, we look forward to continuing to support our portfolio companies and new sustainable energy innovations to realise or even surpass expected achievements.
Elena Bou, Co-Founder and Innovation Director at EIT InnoEnergy
EIT InnoEnergy's portfolio has generated over EUR 771 million in revenue since 2010, an increase of 132% from 2020. Revenue for 2030 is forecasted to be EUR 110 billion.
Moreover, since its 2010 inception, EIT InnoEnergy has created close to 40 000 jobs (directly and indirectly) and delivered over half a million households in developing countries access to energy.
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