The Basque Country boosts economic growth and job creation with the Energy Transition and Climate Change Plan 2021-2024
21/02/2025
According to the study carried out by BC3 during the second phase of the LIFE IP Urban Klima 2050 project, the mobilisation of resources generates an annual economic boost of around €160 million in the Basque GDP.
The Basque Government, through the Energy Transition and Climate Change Plan 2021-2024 (PTECC), fosters a more sustainable and resilient economic model in the Basque Country. This plan, approved in 2021 and assigned €306 million, will soon be replaced with the new Roadmap 2050 and its Strategy to 2030, focusing on reducing greenhouse gas emissions, increasing resilience to climate change and ensuring a just energy transition.
A socio-economic impact study of the PTECC, carried out by the Basque Centre for Climate Change (BC3) using the DERIO macroeconomic model within the framework of the LIFE IP Urban Klima 2050 project, estimates that the mobilisation of resources will attract a total of €98 million of Next Generation EU funds and will mobilise €468 million of private investment.
The report also highlights that these investments will generate an annual increase in Basque GDP of around €160 million and will lead to the creation of an average of 2,013 jobs each year. Each euro of public funds dedicated by the Basque Government to the fight against climate change represents an impact of 2.1 euros on GDP.
The study was carried out during the second phase of the project approved by CINEA (European Climate, Infrastructure and Environment Executive Agency) in September 2024.
