Montel Logo

    Select your prefered language:

  • * Turkish edition by Montel-Foreks requires separate trial access or subscription.

Light

TECHNICAL DIFFICULTIES

Login to Montel Online is currently not available. We apologize for the inconvenience and are working to solve the problem.

EU green transition fund to “reward inaction” – think tank

CO2Policy

09 Sept 2020 05:07

Photo: Shutterstock.com

Photo: Shutterstock.com

Bonn

09 Sept 2020 05:07

(Montel) European funding intended to help coal-dependent regions transition to a clean energy future looks set to be squandered under current conditions, a report by the climate think tank Ember said on Wednesday. 

The report found 11 of 18 countries that use coal in the EU did not have a plan to phase out the fuel that is compatible with the Paris climate agreement. 

It comes ahead of an upcoming vote in the European Parliament on the European Commission’s proposed Just Transition Fund. The fund may end up worth up to EUR 40bn and is supposed to help coal-dependent countries align their economies with a long-term goal to become carbon neutral.

According to Ember’s report, prepared together with the Climate Action Network, nearly two thirds of the money would be directed to seven countries with no plans to exit coal before 2030. 

“[T]he Just Transition Fund looks set to reward inaction rather than real climate ambition,” said Charles Moore, Ember's European programme lead, in a statement. 

The report recommended amending the fund’s rules to condition access on a tough exit date for coal and credible plans to leapfrog other substitute fossil fuels like gas.
 

Share this article on:

URL copied!

English newswire snapshot

Montel uses cookies to improve this website. By continuing to use our website you agree to our use of cookies. Read more about cookies and our privacy policy.