The European Union sets an ambitious goal of becoming the world's first climate-neutral economy by 2050. In order to implement strategic projects that reduce the impact on the climate and a smooth transition to renewable energy resources, Lithuania is mobilizing the necessary investments.
"The green transformation, without which it is impossible to develop a future sustainability-based economy, requires investments. In Lithuania alone, in the short term - until 2030 - the transition to a green economy will require at least EUR 14 billion, of which almost EUR 10 billion are expected to be covered by public funds. Therefore, we have prepared an ambitious Green Finance Action Plan, which will help to effectively mobilize both public and private resources to achieve this goal," says Minister of Finance Gintarė Skaistė.
According to the Minister, the implementation of this plan will make it possible to significantly increase the attractiveness of Lithuania to those who choose to invest in green financial products, and to become the leader of green finance in the Baltic countries.
The plan distinguishes several lines of action . By the end of this year, it is planned to establish a green finance competence and knowledge centre – a Green Finance Institute, which will coordinate the implementation of the development of green finance in cooperation with state institutions, bodies and market participants, and will provide expert assistance to state and municipal institutions and bodies regarding the necessary decisions in the field of green finance.
Also, comprehensive and open data is a key condition for the development of sustainable financing. Therefore, in order to promote the development of the country's green finance, the plan envisages the creation of a centralized sustainability database that would allow data-based decisions to be made regarding the environmental impact of companies or projects.
The plan focuses on promoting green finance in both the public and private sectors. For example, it is planned that the share of green state budget expenditure in the budget for 2026 will represent 50 %.
Representatives of the public sector and the financial market participated in the preparation of Lithuania's Green Finance Action Plan, consultants from the European Bank for Reconstruction and Development (EBRD) and foreign experts were consulted.
