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Power companies face EUR 114bn ‘debt trap’ on climate delay

Europe's electrical utility's face high probability of incurring massive debt burdens and seeing their assets stranded around 2050 if they fail to transition toward net carbon neutrality, a new report finds.

Photo: Vit Cerny/AP/Ritzau Scanpix

European power companies could be burdened with debt and face credit rating downgrades if they fail to take action to reach climate neutrality by the middle of the century, a new study says.

The European Union plans to reach net zero emissions by 2050 as part of efforts to curb global temperature rises and mitigate climate change. As power generation is the largest single source of carbon dioxide emissions, curbing pollution from the sector is crucially important to achieving the bloc’s climate targets.

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