Environment minister: Czechia unable to finance shift to a low-emissions economy

The Czech Republic will not be able to finance the shift to a low-emissions economy and would need hundreds of billions of crowns from the EU, in addition to cohesion funds, in order to fulfil the goals set for 2050, Environment Minister Richard Brabec said at a press conference in Prague on Friday. "We are ready to debate it, but we are not capable of financing it" Brabec said about the EC’s plans for a carbon-neutral economy.

The press conference was held ahead of the United Nations climate summit in Madrid on Monday, and the EU climate summit scheduled for mid-December.

Also present at the press conference, Prime Minister Andrej Babiš emphasized that the Czech Republic must retain the right to decide on the country’s energy mix. By 2050, nuclear energy should form one half of the country's energy mix, coal and natural gas should form about 20 percent.