Orbán cabinet: Hungary aims to be climate neutral by 2050

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Hungary aims to be climate neutral by 2050, and the government is examining ways to reduce carbon emissions to the level that Hungarian forests can absorb by that time, the state secretary for climate, energy policy and the development of the circular economy said on Tuesday.

Attila Steiner told Portfolio’s Sustainable World 2021 conference that the government launched its National Clean Development Strategy to achieve those goals. The 2050 deadline has also been enshrined in law, he noted.

Making the green transition is an economically viable strategy where widespread social support is also crucially important, Steiner said.

Hungary reduced carbon emissions by 32 percent between 1990 and 2019 — putting Hungary in the top third of European Union emission slashers — while its economic performance skyrocketed, Steiner said.

“Hungary successfully decoupled emissions reduction from its economic trajectory,” he said.

Regarding funding of the green transition in Hungary, Steiner noted that government’s green bonds are oversubscribed multiple times. Profits from the bonds will go towards green projects, among other resources, he added.