EU agrees historic recovery plan but without significant climate safeguards
No one can deny the historic value of the recovery plan agreed by EU leaders today, green group Transport & Environment (T&E) has said. But despite a welcome reference to the Paris Agreement and climate neutrality, the plan lacks basic climate safeguards such as a blanket exclusion of fossil fuels. Just 30% of overall spending will be towards achieving the EU’s climate goals.
Interested in this kind of news?
Receive them directly in your inbox. Delivered once a week.
William Todts, executive director at T&E, said: “We cannot accept the paradox that something called ‘Next Generation EU’ invests 70% of its funds in an older generation’s economy while asking young Europeans to foot the bill. Our fight must continue. Surely the European Parliament will amend this historic plan and make it fit for the future.”
T&E said climate spending under the plan needs to be raised to at least 50%, backed by a solid methodology, such as the taxonomy. The ‘do no harm’ principle – whereby no spending should be on projects deemed to do environmental damage – cannot be an empty promise: it needs a clear definition of harmful activities.
Related Articles
View All
Draft Guidelines on State Aid to the air transport sector - T&E consultation response
Making the European Competitiveness Fund the backbone of a green industrial strategy
A new briefing explains why the forthcoming 'ECF' should focus on strategic cleantech with the highest decarbonisation and scale-up potential.
Call for an EU-wide windfall profit mechanism in response to the energy crisis
In a letter to EU Commission president von der Leyen, a group of NGOs say a windfall profit tax on oil companies is needed to support vulnerable house...