nuclear-news

“Nuclear energy is excluded from the Just Transition Mechanism,” Ferreira told a small group of journalists ahead of the college meeting of the European Commission that approved the proposal for the fund aimed at supporting poorer EU regions achieve climate neutrality.

EU leaders agreed in December on a bloc-wide objective of reaching climate neutrality by 2050. In order to convince Hungary and the Czech Republic to sign up, they also reaffirmed the right of countries to decide on their own energy mix, including nuclear.

Poland refused to sign up, saying it needed more EU funding to help phase out coal. The Just Transition Fund is intended to support regions that will be particularly affected by the changes brought by ‘greening’ the economy.

Ferreira confirmed “no country or region” will be excluded but the objective is to concentrate on those areas facing the most dramatic challenges.

The Commission will, therefore, take into account the intensity of greenhouse gas emissions of the industrial sector compared to the EU average and the impact in terms of employment of the transition for these industries. The relative prosperity of the country will also be considered. ………

The fund in detail

The Fund will provide financial aid to countries in their work towards climate neutrality. Within a wider mechanism, the Commission aims to provide technical assistance and ease state aid rules for green investments.

The fund will be based on €7.5 billion of “fresh money”, to be topped up with financing from the European Regional Development Fund and the European Social Fund Plus, both part of the EU’s cohesion policy, but its use will be limited to a 20% of the total allocation.

Ferreira admitted the money is not huge but hoped it could help leverage up to €100 billion for the period 2021-2027 in investments through the support of private investors. …….. https://www.euractiv.com/section/economy-jobs/news/nuclear-excluded-from-eus-new-just-transition-fund/