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Davos: China reaffirms green agenda as US slams EU’s net-zero goal

At the World Economic Forum (WEF) in Davos, China reiterated its commitment to green development, in contrast to the United States, whose secretary of commerce said America should rely on oil and gas instead of pursuing a green transition and criticized the European Union’s (EU) net-zero target. US President Donald Trump, for his part, described the energy transition as a “scam” that caused an energy collapse in Europe.

Speaking at the WEF Annual Meeting 2026 in Davos, Switzerland, Chinese Vice Premier He Lifeng emphasized China’s resolve to reduce its greenhouse gas emissions, adding that the country’s upcoming five-year plan would keep the focus on green growth fueled by solar, batteries, and electric vehicles (EVs).

China’s Vice Premier urged other countries to help combat emissions

He also urged other nations and foreign companies to collaborate with China on creating “a green and prosperous future.”

“We invite enterprises from all over the world to embrace the opportunities from the green and low-carbon transition, and work closely with China in such areas as green infrastructure, green energy, green minerals, and green finance,” He said in a speech at Davos.

In contrast, US Commerce Secretary Howard Lutnick criticized the EU’s solar and wind development, as well as its net-zero goal, adding that the green transition is not something the US should pursue. Lutnick also said that the world should focus on coal as an energy source rather than renewables, according to reports.

In January 2025, President Donald Trump signed executive orders reversing much of the previous administration’s climate policy and withdrawing the US from the Paris Agreement once again.

US Commerce Secretary claims seeking net zero without battery production would make the EU subservient to China

“Why are you going to do solar and wind? Why would Europe agree to be net zero in 2030 when they don’t make a battery? So, if they go 2030, they are deciding to be subservient to China, who makes the batteries,” Lutnick said.

“Why would the US, which has oil and natural gas, try to convert to all-electricity? China does not have oil and natural gas – electricity and electric cars make perfect sense to them,” Lutnick said at a WEF panel.

According to news agencies, Lutnick’s harsh criticism of Europe at a VIP dinner on Tuesday made European Central Bank President Christine Lagarde walk out of the event.

Trump slams “the green new scam” and claims China sells wind turbines to others, but does not build its own wind farms

For his part, Trump also criticized the EU’s transition to renewables, claiming that the US had avoided “the catastrophic energy collapse which befell every European nation that pursued the green new scam.” He also described the green transition as “perhaps the greatest hoax in history.”

In his speech in Davos, the US president claimed that wind farms “lose money” and that China only sells wind turbines without building any wind farms itself.

“They sell them to the stupid people that buy them. They don’t use them themselves,” Trump said, adding that China has only built a “couple of wind farms” in order to “show people what they could look like.”

According to available data, China has the largest wind power capacity in the world, at around 600 GW.

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Davos: China reaffirms green agenda as US slams EU’s net-zero goal

At the World Economic Forum (WEF) in Davos, China reiterated its commitment to green development, in contrast to the United States, whose secretary of commerce said America should rely on oil and gas instead of pursuing a green transition and criticized the European Union’s (EU) net-zero target. US President Donald Trump, for his part, described the energy transition as a “scam” that caused an energy collapse in Europe.

Speaking at the WEF Annual Meeting 2026 in Davos, Switzerland, Chinese Vice Premier He Lifeng emphasized China’s resolve to reduce its greenhouse gas emissions, adding that the country’s upcoming five-year plan would keep the focus on green growth fueled by solar, batteries, and electric vehicles (EVs).

China’s Vice Premier urged other countries to help combat emissions

He also urged other nations and foreign companies to collaborate with China on creating “a green and prosperous future.”

“We invite enterprises from all over the world to embrace the opportunities from the green and low-carbon transition, and work closely with China in such areas as green infrastructure, green energy, green minerals, and green finance,” He said in a speech at Davos.

In contrast, US Commerce Secretary Howard Lutnick criticized the EU’s solar and wind development, as well as its net-zero goal, adding that the green transition is not something the US should pursue. Lutnick also said that the world should focus on coal as an energy source rather than renewables, according to reports.

In January 2025, President Donald Trump signed executive orders reversing much of the previous administration’s climate policy and withdrawing the US from the Paris Agreement once again.

US Commerce Secretary claims seeking net zero without battery production would make the EU subservient to China

“Why are you going to do solar and wind? Why would Europe agree to be net zero in 2030 when they don’t make a battery? So, if they go 2030, they are deciding to be subservient to China, who makes the batteries,” Lutnick said.

“Why would the US, which has oil and natural gas, try to convert to all-electricity? China does not have oil and natural gas – electricity and electric cars make perfect sense to them,” Lutnick said at a WEF panel.

According to news agencies, Lutnick’s harsh criticism of Europe at a VIP dinner on Tuesday made European Central Bank President Christine Lagarde walk out of the event.

Trump slams “the green new scam” and claims China sells wind turbines to others, but does not build its own wind farms

For his part, Trump also criticized the EU’s transition to renewables, claiming that the US had avoided “the catastrophic energy collapse which befell every European nation that pursued the green new scam.” He also described the green transition as “perhaps the greatest hoax in history.”

In his speech in Davos, the US president claimed that wind farms “lose money” and that China only sells wind turbines without building any wind farms itself.

“They sell them to the stupid people that buy them. They don’t use them themselves,” Trump said, adding that China has only built a “couple of wind farms” in order to “show people what they could look like.”

According to available data, China has the largest wind power capacity in the world, at around 600 GW.

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Europe’s Environment 2025 report: Not good

Biodiversity is declining and water stress is affecting one third of Europe’s population and territory, while the frequency and magnitude of climate-related disasters are increasing. In short, this is the message from the report Europe’s Environment 2025.

​Europe’s Environment 2025 is the most comprehensive analysis on the current state and outlook for the continent’s environment, climate, and sustainability, building on data from across 38 countries, according to the European Environment Agency (EEA).

The outlook for most environmental trends is concerning and poses major risks to Europe’s economic prosperity, security, and quality of life, the authors warned. The agency said climate change and environmental degradation pose a direct threat to Europe’s competitiveness, pointing out that it depends on natural resources.

Progress on a range of factors that enable the shift towards sustainability – such as innovation, green employment, and sustainable finance – gives cause for hope, EEA added.

​More than 80% of protected habitats are in a poor or bad state

The report shows biodiversity is declining across terrestrial, freshwater, and marine ecosystems in Europe due to persistent pressures driven by unsustainable production and consumption patterns, demonstrated most notably in the food system.

More than 80% of protected habitats are in a poor or bad state, with 60% to 70% of soils degraded, the document reads.

On a positive note, the extent of protected areas increased over the past decade – by 2022, 26.1% of the European Union’s land and 12.3% of its seas were protected. However, designating protected areas alone does not guarantee that biodiversity is effectively protected, the authors wrote.

​Water stress is affecting one third of Europe’s population and territory

The report’s findings point to severe pressure on water resources: water stress is affecting one third of Europe’s population and territory.

Only 37% of surface water bodies had a good or high ecological status in 2021, with the degradation of aquatic ecosystems threatening Europe’s water resilience. Agriculture is responsible for the most significant pressure on both surface and groundwater, data revealed.

EEA recalled that Europe is the fastest-warming continent on the planet.

Weather- and climate-related extremes caused economic losses of assets estimated at EUR 738 billion in the EU’s 27 member states over the period 1980-2023, with over EUR 162 billion in costs from 2021 to 2023 alone, the report reads.

Over 70,000 people in Europe are estimated to have died from heat in 2022.

The average annual economic losses in the 2020‑2023 period were 2.5 times as high as in the preceding decade, from 2010 to 2019, according to the report.

Downpours are increasing in severity, with several regions subject to catastrophic floods in recent years, while extreme heat, once rare, is becoming more frequent, with deadly consequences: over 70,000 people in Europe are estimated to have died from heat in 2022.

The greatest challenges call for a need to rethink the links between the economy and the natural environment, land, water and natural resources, EEA underscored.

“We cannot afford to lower our climate, environment and sustainability ambitions. Our state of environment report, co-created with 38 countries, clearly sets out the science-based knowledge and demonstrates why we need to act. In the European Union, we have the policies, the tools and the knowledge, and decades of experience in working together towards our sustainability goals. What we do today will shape our future,” EEA Executive Director Leena Ylä-Mononen said.

Bright spots

The report also highlighted the good results of environmental protection policies in Europe.

The EU has cut its domestic greenhouse gas (GHG) emissions by 37% since 1990, largely driven by reducing fossil fuel use and doubling the share of renewables since 2005.

All member states have reduced their reliance on fossil fuels and shifted towards more sustainable energy sources over the last decade, while increased energy efficiency has brought down demand.

In 2023, renewable energy sources represented over 24% of the EU’s final energy use, a record high.

The bloc’s industrial system has managed to reduce emissions by more than 35% from 2005 to 2023, while emissions from buildings fell by more than 35% between 2005 and 2023.

Significant progress has been made in reducing pollution in Europe. EU policies led to improvements in air quality and reduced premature deaths attributable to fine particulate matter from 2005 to 2022 by 45%, according to the Europe’s Environment 2025 report.

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WISE Serbia Annual Women’s Network Event – October 16 in Belgrade

The Center for the Promotion of Sustainable Development and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH are organizing the annual WISE Serbia Women’s Network event, which will take place on October 16 at Fabrika Events in Belgrade.

The WISE Serbia Women’s Network in sustainable energy, climate action, and environmental protection has been in existence since 2018 and is one of the first networks of its kind worldwide. WISE Serbia brings together over 250 female experts from the energy sector and related fields, promoting their role in the energy transition, as well as in the democratization and decentralization of the energy sector. The network is recognized as a platform that connects knowledge, experience, and vision of women shaping a sustainable energy and climate future in Serbia.

Registration is open until October 10 or until places are filled via this LINK. The program begins at 4:30 PM at Fabrika Events, Poenkareova 32, Belgrade. Participation in the event is free of charge.

This year, 10 outstanding women have been nominated for the Female Leader in Sustainable Energy 2025 award. Voting is open until October 10 on the WISE Serbia website. Take the opportunity to support the woman you believe deserves the title of leader in sustainable energy.

“This is the third edition of the Female Leader in Sustainable Energy award. Year after year, we celebrate exceptional women professionally engaged in the energy sector, climate action, and environmental protection. Each nominee could rightfully earn the title of leader. Their biographies and professional achievements speak for themselves. They are recognized in their teams as women who drive change and serve as inspiration and motivation for all of us to continue building a sustainable present and future,” emphasized Branislava Jovičić, cofounder of the WISE Serbia Women’s Network.

Photo: Branislava Jovičić, co-founder of the WISE Serbia women’s network, and Svetlana Cervovic, last year’s winner of the Female Leader in Sustainable Energy award.

The event will be officially opened by H.E. Anke Konrad, Ambassador of the Federal Republic of Germany, and Jovana Joksimović, Assistant Minister for International Cooperation, European Integration, and Project Management at the Ministry of Mining and Energy.

The program will continue with a panel discussion moderated by Maja Turković, Executive Vice President at CWP Europe and the 2023 Leader in Sustainable Energy awardee.

Following the panel discussion, the finalists for the Leader in Sustainable Energy award will be announced, followed by the winner’s presentation and the ceremonial award presentation.

The media sponsor of the event is Balkan Green Energy News.

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September 15 – new deadline for applications for 2025 Female Leader in Sustainable Energy

WISE Serbia, women’s network in sustainable energy, climate action, and environment, under the auspices of the German development cooperation GIZ, has extended the deadline for applications within the 2025 Female Leader in Sustainable Energy award. The new application deadline is September 15.

The call for nominations aims to recognize women who, through their leadership, outstanding achievements, and vision, have demonstrated significant contributions to the sustainable development of Serbia’s energy and related sectors, energy transition acceleration, improvement of energy efficiency, energy security, and safety, as well as the greater recognition of women in this field.

Information about the Award competition

Women professionally engaged in the energy sector, climate action, or environmental protection in Serbia are eligible to apply, both citizens of Serbia and foreign nationals working in Serbia. The candidates themselves can submit applications, as well as their employers, colleagues, or teams who wish to highlight the outstanding achievements of their associates.

The invitation is open to all profiles – decision-makers, employees in business, public enterprises, academia, civic energy, non-governmental sector, international organizations, consulting teams, legal and financial institutions, IT experts, as well as media representatives.

The application needs to be emailed by September 15, 2025, to [email protected]. It needs to include:

  1. Nomination letter presenting the candidate and listing the significant results and achievements nominating her for the selection.
  2. Professional résumé.
  3. A short nomination statement to present to the wider public on the WISE Serbia website and social media platforms. The statement should be up to 100 words.
  4. Photo portrait in high resolution.
  5. Contact info – email address, phone number, social network accounts that the candidate is actively using.

Applications should be sent by email to [email protected].

After processing the submitted applications, the candidates’ profiles will be published on the WISE Serbia network website – wisesrbija.org, and the voting will be open to the public. The candidate with the highest number of votes will be awarded the title of Female Leader in Sustainable Energy.

The announcement ceremony for the Leader in Sustainable Energy 2025 will take place during the WISE Serbia women’s network annual conference in mid-October in Belgrade.

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Applications for 2025 Female Leader in Sustainable Energy Award in Serbia opened

WISE Serbia, the Network of Women in Sustainable Energy, Climate Action, and Environment, under the auspices of the German development cooperation GIZ, announces the call for nominations for the 2025 Female Leader in Sustainable Energy Award. The call is intended for women who are professionally engaged in the energy and related sectors in the Republic of Serbia and who have demonstrated outstanding results in their careers. Application process is open until September 10.

The call for nominations for the 2025 Female Leader in Sustainable Energy Award aims to recognize women who, through their leadership, outstanding achievements, and vision, have demonstrated significant contribution to the sustainable development of the Serbia’s energy and related sectors, energy transition acceleration, improvement of energy efficiency, energy security, and safety, as well as the greater recognition of women in this field.

The Female Leader in Sustainable Energy award was established in 2023 by the Center for the Promotion of Sustainable Development, the founder of the WISE Serbia women’s network, under the auspices of the German development cooperation GIZ. The WISE Serbia network was established in 2018 and is among the first of its kind globally.

The recipient for the previous year, was Svetlana Cerović, Director of Specialized Financing at UniCredit Bank Serbia

The title of the Female Leader of Sustainable Energy has been awarded to several notable individuals. For 2023, the recipients are Dubravka Đedović Handanović, Minister of Mining and Energy in the Government of the Republic of Serbia; Maja Turković, Executive Vice President at CWP Global; and Ana Džokić, co-founder of the energy cooperative Elektropionir. The recipient for the previous year, 2024, was Svetlana Cerović, Director of Specialized Financing at UniCredit Bank Serbia.

Photo: GIZ’s Project Director Till Barmeier with the laureate, Svetlana Cerović from UniCredit Bank Serbia

“The Female Leader in Sustainable Energy Award is an opportunity to learn more about the achievements, initiatives, and enthusiasm of women who push boundaries through their engagement and contribution to sustainable energy. It is also an exceptional opportunity for networking and exchanging knowledge and experiences within the WISE initiative and beyond,” said Cerović.

Last year’s award winner invited all interested women to take part in this year’s award process and emphasized that she looks forward to future cooperation and joint initiatives.

Information about the Award competition

Women professionally engaged in the energy sector, climate action, or environmental protection in Serbia are eligible to apply, both citizens of Serbia and foreign nationals working in Serbia. The candidates themselves can submit applications, as well as their employers, colleagues, or teams who wish to highlight the outstanding achievements of their associates.

The pannel discussion at 2024 annual event of the WISE Serbia women’s network : pictured from left: Maja Turković, Ankica Babulov, Dušan Macura, Ana Džokić

The call is open to all profiles – decision-makers, employees in business, public enterprises, academia, civic energy, non-governmental sector, international organizations, consulting teams, legal and financial institutions, IT experts, as well as media representatives.

The call is open from August 25 to September 10.

The call for nominations for the Leader of Sustainable Energy is open from August 25 to September 10, 2025. The application needs to be emailed by September 10, 2025, to [email protected]. It needs to include:

  1. Nomination letter presenting the candidate and listing the significant results and achievements, nominating her for the selection.
  2. Professional résumé.
  3. A short nomination statement to present the shortlisted candidate to the wider public (on the WISE Serbia website and social media platforms). The statement should be up to 100 words.
  4. Photo portrait in high resolution.
  5. Contact info – email address, phone number, social network accounts that the candidate is actively using.

Applications should be sent by email to [email protected].

After processing the submitted applications, the candidates’ profiles will be published on the WISE Serbia Network website – wisesrbija.org, and the voting will be open to the public. The candidate with the highest number of votes will be awarded the title of Leader in Sustainable Energy.

The announcement ceremony for the Leader in Sustainable Energy 2025 will take place during the WISE Serbia Women’s Network annual conference in mid-October in Belgrade.

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Croatian Bank for Reconstruction and Development secures EUR 50 million for firms for green investments

The Croatian Bank for Reconstruction and Development has secured EUR 150 million from the European Investment Bank, of which at least one third is dedicated to green investments by businesses in the country.

A new finance contract with the European Investment Bank (EIB) provides EUR 150 million to finance projects of mid-caps, large private companies and public entities in Croatia, the Croatian Bank for Reconstruction and Development (HBOR) said.

The loan particularly promotes green investments. It is the first tranche of a new EUR 350 million financing agreement between the EIB and HBOR to expand access to financing for Croatian companies.

The package will be deployed via direct lending by HBOR and through commercial banks and other financial intermediaries.

At least 30% of the financing is for projects contributing to green transition

At least 30% of the financing is for projects contributing to green transition, including investments in energy efficiency, renewable energy sources, sustainable construction and clean transport, Croatia’s bank noted.

According to EIB Vice-President Teresa Czerwińska, the initiative will expand financial support to a broad range of Croatian companies and public entities, with a strong emphasis on climate action and sustainability.

The operation is structured as a multi-beneficiary intermediated loan (MBIL). In addition to advancing the European Union‘s goals to promote climate action and environmental sustainability, it will help foster economic activity and social cohesion across Croatia, HBOR said.

The EIB and HBOR have concluded 28 finance contracts worth EUR 3.8 billion overall

HBOR will ensure, as it has so far in cooperation with EIB, that all end-beneficiaries comply with relevant national and EU legislation, with a special focus on preserving environmental, climate and social standards.

The new financing further reinforces HBOR’s role in supporting green and climate-resilient projects, contributing to the achievement of the strategic goals of Croatia and the European Union for the ​​green transition, according to Hrvoje Čuvalo, President of the Management Board of HBOR.

EIB and HBOR have concluded 28 finance contracts so far, worth EUR 3.8 billion, for financing more than 8,000 projects across Croatia.

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Slovenia sells Europe’s first sustainability bond, worth EUR 1 billion

Slovenia accessed the international markets with its inaugural sustainability-linked bond, oversubscribed by more than 6.5 times. The interest payable can grow or drop by 50 basis points depending on the country’s progress in cutting greenhouse gas emissions. It is the first-ever sustainability-linked bond issue from a European sovereign, the Ministry of Finance pointed out.

Bankers and fund managers flocked around the first sustainability-linked bond that Slovenia offered in the market. Demand reached over 6.5 times more than the EUR 1 billion available, with a 10-year maturity. It is also the first-ever sustainability-linked bond issue from a European sovereign, the Ministry of Finance pointed out.

The country’s Sustainability Bond Framework is also in line with the Green Bond Principles of the International Capital Market Association – ICMA, and it takes into account the Green Bond Standard of the European Union. The proceeds from sustainability bonds are for financing or refinancing eligible green or social projects.

If Slovenia doesn’t achieve a 35% cut in total greenhouse gas emissions by 2030, relative to the 2005 baseline, the interest payable on the note will increase by 50 basis points, commencing nine years after the settlement date. If the emissions cuts surpass 45%, the rate will go 50 points lower, the documentation shows.

High demand resulted in a drop in the price spread from 70 to 61 basis points above the benchmark

The initial price guidance was at 70 basis points above the mid-interest rate swap as benchmark. Strong demand, including EUR 435 million in joint lead managers (JLM) interest, slashed the spread to 61 points. The note has a 3.125% fixed-rate coupon, reoffer yield of 3.155% and reoffer price of 99.746%, the ministry revealed.

As for the geographical distribution of the buyers, 23% are in the United Kingdom or Ireland, 20% is in the region comprising Belgium, Netherlands and Luxembourg, and 15% are from Germany, Austria or Switzerland. Next is Southern Europe, with 12%, followed by Slovenia’s 11%, a 9% Nordics share and 5% for France.

Asset managers amounted to 54% of the total sum. Central banks and other official institutions, at 18%, were just barely ahead of other banks (17%). Insurance and pension funds purchased 5% and hedge funds now hold 4% of the issue.

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Just Transition Young Voices Award: Empowering youth champions in the clean energy transition

In a celebration of youth-led climate action, the Energy Community Secretariat, together with Bankwatch, CAN Europe, RYCO, and CLEW, has launched the Just Transition Young Voices Award, spotlighting the importance of young people’s voices in shaping a just, equitable, and sustainable energy future. Balkan Green Energy News is an official media partner of the initiative.

Young people aged 18 to 30 from the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo*, Montenegro, North Macedonia, Serbia), Ukraine, Georgia, and Moldova are invited to submit original, fact-based articles that explore how their communities are navigating the shift away from fossil fuels. Recognizing that youth are essential agents of change, the award provides a platform for creative and solution-oriented journalism addressing the challenges and opportunities of a just transition.

Applications are open until 28 July 2025. The competition aims to showcase innovative thinking and concrete solutions developed by young people who are actively engaging in climate and energy issues.

Foto: Energy Community Secretariat

The award framework

The Just Transition Young Voices Award aims to inspire and support young people with an interest in energy and climate journalism to explore and report on just transition topics. Submissions should be original, fact-based articles in English, between 700 and 1,100 words. Stories may highlight real people, places, or initiatives that reflect the challenges, opportunities, and solutions involved in just transition, particularly in sectors or regions impacted by the green shift.

Three prizes will be awarded:

  • A one-month paid internship at the Energy Community Secretariat in Vienna;
  • A field mission on energy transition in the Western Balkans with Bankwatch;
  • Participation in the Climate Reporting Training with CAN Europe in Ohrid (1–3 September 2025).

Winning pieces will be published on Balkan Green Energy News and other partner platforms, as well as presented at the Energy Community Just Transition Forum. Applications will be evaluated by a jury comprising representatives from Bankwatch, CLEW Network, RYCO, and the Energy Community Secretariat.

The Just Transition Young Voices Award reaffirms a simple truth: meaningful system change requires the leadership of those who will live with its consequences.

* This designation is without prejudice to positions onstatus and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.
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Trump administration suspends USD 20 billion in emissions reduction funding

The US Environmental Protection Agency (EPA) has frozen USD 20 billion in funding for greenhouse gas reduction projects, citing, among other things, concerns over potential fraud, waste, and abuse, news agencies reported. The move prompted a lawsuit by environmental NGO Climate United Fund, one of the beneficiaries of the program aimed at financing thousands of green energy and climate action projects.

The funding was appropriated by Congress under former President Joe Biden, but the new US administration, led by Donald Trump, decided to freeze it, the reports noted. The Greenhouse Gas Reduction Fund, commonly known as the green bank, was launched in 2022.

The green bank was launched under the Biden administration

In a statement, the EPA said that the Justice Department and the Federal Bureau of Investigation (FBI) were now reviewing the program. Lee Zeldin, the EPA’s new chief, said that “EPA will be an exceptional steward of taxpayer dollars dedicated to our core mission of protecting human health and the environment, not a frivolous spender in the name of ‘climate equity,’” according to news agencies.

The EPA also said it would seek to use the green bank funds “with enhanced controls.”

Over the weekend, Climate United Fund, which had been awarded nearly USD 7 billion under the program to finance clean energy and climate-friendly projects, sued the EPA, demanding access to the funds.

Climate Action Fund had been awarded nearly USD 7 billion for thousands of projects

The organization also sued Citibank, though which the money was to be disbursed, for withholding the funds, according to reports.

In April 2024, it was announced that the EPA had selected eight recipients, including Climate United Fund, to be awarded a total of USD 20 billion in grants to finance tens of thousands of projects aimed at combating climate change and promoting environmental justice. The money was formally awarded in August.