These services included wastewater treatment plants, vehicles to transport waste, acquisitions of land to create a natural reserve and cleaner equipment for production.

About €40 billion (~$43.53 billion, or 60 per cent of total environmental protection investments) was by corporations, both the specialist providers of environmental protection services and other companies that purchase technologies and equipment reducing the environmental pressures arising from their production process.

The general government and non-profit sector accounted for the remaining 40 per cent investments, an Eurostat release said.

The share of environmental protection investments in total investments was about 1.8 per cent in 2023. More specifically, 1.7 per cent of all investments of corporations were environmental protection investments, and 4.5 per cent of all general government investments.

The largest amount of investments was related to wastewater and waste management services. In 2023, they accounted for 41.6 per cent and 26.6 per cent of the total investments for environmental protection respectively.

Air protection accounted for 10.4 per cent of investments for environmental protection. General environmental administration, research and development and protection against radiation accounted for 8.4 per cent.

Biodiversity and landscape protection accounted for 6.4 per cent; soil and groundwater protection for 5.6 per cent and noise reduction for the remaining 1.1 per cent.

Fibre2Fashion News Desk (DS)