EU budget: 30% of funds will go into ‘green investments’

Investments in what, exactly? Certainly not in reliable electricity supply – quite the opposite in fact. And where will all the retired turbines, solar panels, lithium batteries etc. go after their short lifetimes?
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30% of the EU’s €1.8 trillion budget and recovery plan for 2021-2027 will be made available for the green transition, reports Euractiv.

That amount is no longer up for negotiation and the focus must now shift to spending it well, said Kadri Simson, the EU’s energy commissioner.

“Naturally I understand the wish to have an even greater pool of funds available,” said Simson, who spoke at a EURACTIV event on Thursday (29 October).

“However, I think now it is important to have a rapid agreement on the recovery package and that the money is used well,” she added.

The European Parliament and EU member states are currently negotiating spending rules for the bloc’s next long-term budget and coronavirus recovery plan, whose overall amount was decided after marathon talks in July.

Under the July budget deal, 30% of EU funds will go into green investments such as renewable energy generation, renovating buildings and deploying electric vehicle recharging networks across Europe.

By 2030, all 27 member states will jointly need to reach 32% of renewable energy consumption, despite large differences in clean power generation among EU countries.

“We need to power up Europe with future proof green technologies and accelerate the use of renewables. Our future will largely be based on them,” Simson said.

A fair transition

However, that transition will only succeed “if it is seen as fair by the people,” the EU commissioner insisted.

Continued here.

via Tallbloke’s Talkshop

November 3, 2020 at 05:37AM

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