A group of hands united to nurture new growth, reflecting the EU’s ambition to cut emissions and guide industries towards a more sustainable path. Photo Credit : Shutterstock, Wanan Wanan
Environment European UnionFunding an Express Transition Towards Clean Energy
Various new measures have been implemented to accelerate the European Union’s green transition.
An additional €100 billion in public funds will be used to implement 40 new clean energy measures, such as helping polluting industries like steel and cement clean up while also creating new clean energy wind farms and electric vehicle charging stations.
The new measures, known as the Clean Industrial Deal, align with the European Union’s goal of reducing emissions by 90% by 2040. The European Commission hopes that the promised €100 billion in public funds will attract upwards of €400 billion in private funds, creating a large resource pool to implement various green projects. What’s more, an “affordable energy action plan” is included among the measures, aiming to lower energy bills for households and businesses while protecting jobs. “We are not deregulating. We are coming to the implementing phase,” adds the European Commission’s Vice President Teresa Ribera.
