Wednesday, Jul 6, 2022
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1000 green projects eligible for EU’s post pandemic recovery fund

EU post pandemic fund
The EU Commission has proposed a €1.1 trillion stimulus fund

The European Union (EU) Commission has proposed a stimulus fund to help economies recover from the Covid-19 crisis and more than 1000 green projects are eligible for the fund, according to Reuters.

The EU has proposed a €1.1 trillion fund budget plus a €750 billion recovery fund as the commission begins discussion on the bloc’s 2021-27 budget and economic stimulus fund.

EU ministers are expected to meet today to try to agree on the budget and economic stimulus fund. The fund has been heavily criticised by environmentalists for falling short of what is needed to meet the bloc’s current goal to cut greenhouse gas emissions by at least 40 percent against 1990 levels by 2030.

Members from 27 European Union nations will be meeting face-to-face for the first since February despite the dangers of the coronavirus pandemic.

The research, which was accessed by Reuters, was carried out by consultancy firm EY.

EU Budget Commissioner Johannes Hahn told the media, “It was already clear at Easter when I was calling, the first time, all the different capitals that such a decision can only be taken if the leaders, prime ministers, heads of state, meet in person in Brussels.”

The EU plans to impose carbon dioxide (CO2) taxes on imports of energy-intensive goods, however, the union does not plan to crack down on planet-warming methane emissions from gas imports despite pressure from oil companies, activists and academics, according to its draft strategy and sources familiar with the matter.

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