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2021-07-09 12:15:00

EUROPEAN CLIMATE INVESTMENT €30 BLN

EUROPEAN CLIMATE INVESTMENT €30 BLN

ENERDATA8 Jul 2021 - The European Parliament (EP) has approved the €30bn upgraded Connecting Europe Facility (CEF) programme for 2021 to 2027, with 60% for projects that help achieve the EU’s climate objectives and 15% of energy pillar funds for cross-border renewable energy projects. The programme is divided into three pillars, with around €23bn going to transport projects, €5bn for energy projects and €2bn for digital projects. In June 2021, the EU climate law, which targets a reduction in greenhouse gas (GHG) emissions of at least 55% by 2030 compared to 1990 and climate neutrality by 2050, was adopted by the European Parliament and EU Members States (except Bulgaria).

In addition, the EP has also endorsed new Trans-European Network (TEN-T) rules, which simplify the permit-granting procedures for TEN-T projects to facilitate their completion. The regional bloc imposed mandatory sustainability criteria for all projects and ended support for new natural gas and oil projects. Dedicated hydrogen assets converted from gas can be used to transport or store a pre-defined blend of hydrogen with gas or biomethane during a transitional period until 31 December 2029.

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Tags: EUROPE, CLIMATE, INVESTMENT
Chronicle:
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