(Bloomberg) — Global leaders should consider a role that central banks could play in helping the world shift to clean energy, Polish President Andrzej Duda said during a climate summit hosted by his U.S. counterpart Joe Biden.
Earlier this month, Polish central bank Governor Adam Glapinski said that his institution will be crucial in financing the country’s planned $30 billion nuclear energy project. The monetary authority will need to tread carefully, however, because it’s legally banned from direct financing of government spending.
“We should think how central banks could support energy transition of our countries,” Duda said during his speech on Friday, without elaborating.
Duda also said that Poland supports the climate goals set out by the European Union and has ambitions to reach them. The country plans to build nuclear, wind, solar and gas-fired plants to help reduce the share of coal in its power generation to as low as 11% in 2040 from 70% now. The EU’s most coal dependent country has been in talks with the U.S. on nuclear technology and is set to make a final investment decision next year.
©2021 Bloomberg L.P.
This advertisement has not loaded yet, but your article continues below.
In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post.
Top Stories Newsletter
Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300