EU budget: 30% of funds will go into ‘green investments’

Posted: November 3, 2020 by oldbrew in Energy, government
Tags: , ,

Investments in what, exactly? Certainly not in reliable electricity supply – quite the opposite in fact. And where will all the retired turbines, solar panels, lithium batteries etc. go after their short lifetimes?
– – –
30% of the EU’s €1.8 trillion budget and recovery plan for 2021-2027 will be made available for the green transition, reports Euractiv.

That amount is no longer up for negotiation and the focus must now shift to spending it well, said Kadri Simson, the EU’s energy commissioner.

“Naturally I understand the wish to have an even greater pool of funds available,” said Simson, who spoke at a EURACTIV event on Thursday (29 October).

“However, I think now it is important to have a rapid agreement on the recovery package and that the money is used well,” she added.

The European Parliament and EU member states are currently negotiating spending rules for the bloc’s next long-term budget and coronavirus recovery plan, whose overall amount was decided after marathon talks in July.

Under the July budget deal, 30% of EU funds will go into green investments such as renewable energy generation, renovating buildings and deploying electric vehicle recharging networks across Europe.

By 2030, all 27 member states will jointly need to reach 32% of renewable energy consumption, despite large differences in clean power generation among EU countries.

“We need to power up Europe with future proof green technologies and accelerate the use of renewables. Our future will largely be based on them,” Simson said.

A fair transition

However, that transition will only succeed “if it is seen as fair by the people,” the EU commissioner insisted.

Continued here.

  1. pochas94 says:

    Yeppers, make that feeding trough as big as possible. Beats the hell out of working.

  2. Stephen Richards says:

    Future proof ? 🙂 🙂 🙂

    So has Boris agreed to abide by this directive, I wonder ?

  3. oldbrew says:

    “We need to power up Europe with future proof green technologies”
    – – –
    Which means: we need an inexhaustible supply of rare earth minerals and other mined materials used to make solar panels, wind turbines and lithium (or similar) batteries.

    Does such a supply exist?

  4. Paul Vaughan says:

    Deep State Trip to Wash IT Awe

    “[…] all 27 member states will jointly need to reach 32% of renewable energy consumption […]”

    Hear Mayan tour PR ET shh! UN of “whatever! red bet” 27*32 = 1728 / 2 wean line sin 4*496 = 1984.

  5. ivan says:

    Future proof green tech.

    Does that mean they are investing in pixie dust and unicorn farts to keep the lights on and industry turning over? That would be typical since the unelected commissioners all live in some la-la fairyland.

  6. oldbrew says:

    While they get ready to spend trillions, clouds are still a mystery. In other words, they have no real idea what the climate is up to. It’s all a game.

    ‘If indeed cloud feedback is negative rather than positive, it’s possible that combined negative feedbacks in the climate system dominate the positive feedbacks from water vapor, which is the primary greenhouse gas, and from snow and ice. That would mean that the overall response of the climate to added CO2 in the atmosphere is to lessen, rather than magnify, the temperature increase from CO2 acting alone, the reverse of what climate models say.’

  7. Curious George says:

    Oldbrew – no one is going to throw money at clouds. They go more down-to-earth.

  8. oldbrew says:

    Another climate conundrum…

    A shortage of glass is making solar panels more expensive and delaying production, hurting China’s top manufacturers.
    . . .
    In 2018, with the energy intensive and polluting glass industry facing over-capacity issues, China’s government forbade companies from adding new production capacity.
    – – –
    So making solar panels from glass is ‘energy intensive and polluting’? 🤣

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