12 European NGOs urge the EU Council to agree on a comprehensive, bold and transformative Social Climate Fund
With energy and food prices on the rise, energy and mobility poverty – already highly problematic before the current geopolitical and economical crisis – are an increasing problem across the EU. Without targeted investment and redistributive policies, the climate transition risks creating a two tier society. If wealthier households transition faster than those on low and middle incomes, inequalities will increase and public support for the transition will be at risk. That is why the Social Climate Fun (SCF) is a highly needed and indispensable part of the Fit for 55 package. The Fund should go beyond mitigating the social impacts of the new Emissions Trading System for buildings and road transport and aim to end energy and mobility poverty. In the meantime, it is essential to prevent and counter the unequal impacts that a new carbon price for these sectors will have in different member states.
Reinvestment in green infrastructure and targeted redistribution of revenues will help low- and middle-income households to adjust to the EU’s new ETS...
ETS2 is a €300 billion opportunity to liberate Europeans of expensive oil imports and reduce pollution from vehicles. The social concerns are real but...
The decision to create a Europe-wide carbon price was right but creates significant political risk. The good news is it can still be fixed.