Large corporations must contribute to climate protection, Hungary's goal is to ensure a 50% reduction in greenhouse gas emissions, Hungarian Prime Minister Viktor Orban said at the COP29 leaders summit on November 12 in Baku, Report informs.
"We cannot impose unrealistic goals on companies and farmers. We must offer them practical support. The green transition and fight against climate change should not be directed against the business community. On the contrary, this process should be mutual, requiring financial guarantees and significant investments. Large corporations must contribute to climate protection," said Orban.
He noted that global climate policy should be guided by common sense, not ideological considerations or panic-mongering. It is also necessary to consider the interests of Hungarian citizens, he added.
"We are an important participant in energy storage and electric vehicle development. We continue to invest in our nuclear energy, increasing its share to 70%," he said.
Orban emphasized that Hungary plays a key role in energy transit from east to west.
He added that Hungary is a leader among EU countries on climate protection issues: "We are reducing emissions. Regarding the future, we are setting far-reaching goals. Our goal is to reduce greenhouse gas emissions not by 40%, but by 50%."