Connect with us

Foreign

100 EU regions tapped for cash to curb impact of green transition

Published

on


The European Commission has drawn up a list of EU regions most in need of funds to mitigate the social impact of cleaning up emissions-intensive industries, it announced on Wednesday.


According to the EU executive, it is part of a bid to take the bloc to net carbon-neutrality by 2050.

Italy’s Taranto, Denmark’s Northern Jutland, Western Macedonia in Greece and Bulgaria’s Maritsa are particularly deserving of a share of a projected total of 100 billion Euros (109 billion dollars),’’ it said.

The money from the Just Transition Fund should help re-skill or retrain workers, diversify the economy, rehabilitate the environment, or assist businesses to shrink their carbon footprints.

Only 7.5 billion Euros of the fund is to come from the European Union’s next long-term budget, which is yet to be approved, while the rest is to come from public funds, including national co-financing, and private finance.

Ultimately, however, it is up to the 27 member states to decide how to distribute the money.

The as-of-yet unannounced allocations for the 100 out of 1,200 regions are far from a done deal.

The EU executive drew up the plans based on areas’ concentration of carbon-intensive activities, taking account of their needs, means and vulnerabilities.

Report says negotiations with 27 member states will now begin.

Edited By: Abiodun Oluleye/Emmanuel Yashim



Watch Live News



Make A Comment

Load more

Abiodun Oluleye: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Contact US: editor @nnn.com.ng, nnnnews247 @gmail.com

Latest News

April 2020
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930