No Fossil Gas in Green Transition Fund

EU Green Deal: Green Transition Fund Will Not Pay for Nuclear or Fossil Gas (Reuters)
Kate Abnett (June 25): EU countries agreed on Wed. (June 24) that the bloc’s flagship fund to wean regions off fossil fuels should not finance nuclear or natural gas projects, despite calls from some Eastern EU countries for gas to be eligible for EU funding… The European Commission, the EU’s executive, wants to set up a 40 billion euro Just Transition Fund, comprised of 30 billion euros from an EU coronavirus recovery fund and 10 billion euros from its budget for 2021-27… The proposal will be finalized following negotiations between member states, the Commission and EU Parliament, with the latter typically favoring ambitious climate change policies… While transition money is off the table, fossil gas projects could still seek support from other parts of the EU budget and coronavirus recovery fund — so long as those projects “do no harm” to the bloc’s emissions-cutting goals. Link to Content

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