On 14 January the European Commission presented its investment plan that will underpin its Green Deal (c.f. article No. 11541 on the EU Green Deal). Significant investment will be required for the EU to achieve its goal of being a climate-neutral economy by 2050. This plan will mobilise public investment and help to unlock private funds through EU financial instruments, which would lead to at least €1 trillion of investments in the decade ahead. Furthermore a new European fund will be set up within the Just Transition Mechanism and will be designed to support those regions particularly affected supporting the process of changing business activities and supporting workers redeployment.
The EU’s Green Deal for Europe investment plan will rely on the leverage effects of public investment in releasing private sector funds. In terms of European funds, the European budget allocation (i.e. common policies) will dominate the bulk, 25% of which will target the goals of ecological transition. The amount of the multi-annual financial framework still remains to be negotiated.
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