Israel is ready to commit large financial resources to being green. After Cabinet approval, the Israeli Government plans to spend $610 million in reducing greenhouse gas emissions. The investment, to be implemented over the next ten years, will help Israel fulfill its pledge to the Copenhagen Climate Summit of December 2009. At the summit, Israel committed itself to adhere to a 20 percent emissions reduction target starting in 2020.
“For the first time, Israel’s government is promoting a multibillion-shekel plan based on concrete steps aimed at advancing Israel’s contribution to greenhouse gas mitigation,” explained Gilad Erdan, the Environmental Protection Minister.”This is a practical plan which relates to the life of every citizen and to steps which will support industry, technological innovation and a response to the universal problem of global warming.”