Politics
EU Parliament Approves $21 Billion Fund for Green Transition
- Just Transition Fund will help most coal-dependent regions
- EU leaders to discuss stricter 2030 climate goal next week
Processing domes stand at a biogas plant, operated by E.ON SE, in Sembten, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
The European Parliament gave its final approval to a 17.5 billion euro fund that will help the most coal-dependent European Union regions shift to a climate-neutral economy.
The vote on the Just Transition Fund comes less than a week before a May 24-25 summit of the bloc’s heads of government, who will discuss how to reach stricter 2030 climate goals. The 27-nation EU is tightening its emissions-reduction policies under the Green Deal, an unprecedented overhaul that envisages slashing greenhouse gases by at least 55% by the end of this decade from 1990 levels, and zeroing them out by the middle of the century.