The European Green Deal, initiated by the European Union, aims to make Europe the first carbon-neutral continent by 2050. It mobilizes a total of 1,000 billion euros for the period 2021-2030, integrating resources from the European budget, contributions from Member States and private partnerships. The Green Deal covers various strategic investment areas, the main ones of which are:
1. Clean and renewable energy
Objective: Reduce dependence on fossil fuels and encourage renewable energies.
Actions: Develop renewable energy sources such as wind, solar, hydroelectricity, and green hydrogen.
Examples of financing:
The InvestEU Fund which allocates financing for renewable energy production and storage projects.
The Just Transition Mechanism helps fossil fuel-dependent regions diversify their economies.
The EU has invested €1 billion in innovative clean technology projects through the Innovation Fund .
2. Energy efficiency of buildings
Objective: Accelerate the renovation of buildings to reduce their carbon footprint and improve their energy efficiency.
Actions: Insulate buildings, replace inefficient heating systems, and promote low-energy construction.
Examples of financing:
Renovation Wave Initiative with a budget of 150 billion euros over 10 years, intended for the energy renovation of public and private buildings.
Horizon Europe programme , supporting research and innovation projects in sustainable construction materials.
Cohesion Fund to help Member States finance projects to renovate ageing infrastructure.
3. Sustainable mobility
Objective: To encourage less polluting modes of transport to reduce emissions in the transport sector.
Actions: Support for electric vehicles, charging infrastructure, and development of green public transport.
Examples of financing:
Connecting Europe Facility (CEF) to develop electric vehicle charging infrastructure along major roads.
Initiative for carbon neutral cities under Horizon Europe, which finances green urban transport projects.
The European Investment Bank (EIB) supports sustainable transport projects with loans for rail infrastructure and clean vehicles.
4. Sustainable and circular industry
Objective: Transform the industry to reduce waste, promote recycling, and foster a circular economy.
Actions: Recycling projects, eco-design, industrial waste management and reduction of the use of non-renewable resources.
Examples of financing:
Innovation Fund to support industries in the integration of carbon capture and storage (CCS) technologies.
The LIFE programme for plastic waste reduction and circular economy projects, with a budget of almost 5.4 billion euros .
Horizon Europe funds research and development in advanced recycling and sustainable materials solutions.
5. Agriculture and biodiversity
Objective: To promote more sustainable agriculture and preserve European biodiversity.
Actions: Encourage environmentally friendly agricultural practices, protect ecosystems, and reduce the use of pesticides.
Examples of financing:
The Common Agricultural Policy (CAP) , with an allocation of €387 billion until 2027, provides incentives for farmers to adopt sustainable practices.
The Horizon Europe programme to finance research into ecological agricultural practices and the preservation of biodiversity.
Rural Development Fund , supporting initiatives aimed at preserving agricultural land and natural ecosystems.
6. Just transition and social support
Objective: To ensure that the green transition benefits everyone and leaves no community behind.
Actions: Help workers in polluting sectors to retrain and support regions that depend on fossil fuels.
Examples of financing:
Just Transition Mechanism with a fund of 40 billion euros to support the regions most affected by the ecological transition.
The Social Climate Fund , intended to offset transition costs for low-income households.
Just Transition Fund (JTF) , which finances training and retraining projects for workers in regions dependent on polluting industries.
7. Research, innovation and clean technologies
Objective: Accelerate technological innovation for sustainable solutions.
Actions: Invest in R&D to develop green technologies, such as energy storage and CO₂ capture.
Examples of financing:
Horizon Europe , with a budget of 95.5 billion euros , a significant share of which is dedicated to green technologies and renewable energies.
European Innovation Council (EIC) , which funds start-ups and innovative companies in the field of green technologies.
The InvestEU Fund , which provides guarantees to innovative clean energy projects.
