Hungary sets 2050 climate neutrality goal in law, issues green bond

(Climate Home News, 4 Jun 2020) Hungary has set a climate neutrality goal for 2050, in a law passed by parliament on Wednesday, signalling support for the EU net zero emissions strategy

The 3-page document was significantly watered down from a “climate emergency” declaration originally put forward by an opposition lawmaker last August.

It followed a day after the government issued a €1.5 billion green bond, with the bulk of funds earmarked to run, maintain and upgrade the railway system.

Climate and energy minister Péter Kaderják said in a government statement the country was choosing “the path of the future” and could cut emissions while growing the economy.

In a hint the plans relied on EU funds, he said the costs of moving to net zero emissions should be borne by the big polluters. Brussels should not divert the “cohesion fund” for poorer member states into climate action, Kaderják added.

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Climate Home News, 4 Jun 2020: Hungary sets 2050 climate neutrality goal in law, issues green bond