LONDON (UK) – As EU ministers begin talks on the bloc’s 2021-27 budget, more than 1,000 eco-friendly projects could line up seeking a share of the EU’s post-coronavirus recovery package pie.
Ministers are holding talks in Brussels on Friday to try to present the budget and agree to the economic stimulus fund, which has drawn the ire of environmental think tanks. They say it falls short of meeting the EU’s current goal of slashing greenhouse emissions by at least 40% against 1990 levels by 2030.
The EU Commission has submitted a 1.1 trillion euro ($1.25 trillion) budget along with a 750 billion euro recovery fund for restarting economies most affected by the lockdowns.
According to the commission, the package will fuel a recovery that will provide a shot in the arm to “green” industries and technologies, to reduce emissions.
More than 1,000 green projects are eligible for the recovery fund.
The projects would support over 2 million jobs and invite investment to the tune of 200 billion euros.
The projects can be launched within two years if they receive funds. They cover renewable energy, energy storage, building renovation, low-carbon transport, manufacturing of low-carbon technologies and more efficient industrial processes.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field