€105 Billion for Green Economy

A massive funding investment of €105 billion will be ploughed into the green economy through the EU Cohesion Policy.

Danuta Hubner, European Commissioner for Regional Policy, said the money will provide a solid platform for job creation and a significant boost for regions and cities in their quest to maintain Europe's global leadership in the field of green technologies.
 
Commissioner Hubner said: "Support for the green economy and the environment goes hand in hand with the Cohesion Policy's objectives to deliver sustainable growth, jobs and competitiveness. In a difficult financial climate, this investment will be instrumental in creating long-term employment and reviving local economies, as well as underpinning the EU's commitment to the fight against climate change."

The €105 billion dedicated to green projects and jobs is almost three times the sum announced in the 2000-2006 budgetary period. A large part of the package totalling some €54 billion is designed to help Member States to comply with EU environmental legislation. It has been revealed that improvement of water and waste management alone accounts for €28 billion of the total.

The EU has embraced ambitious objectives in the fight against climate change, including a 20% reduction in EU greenhouse gas emissions with a 20% share of renewable energies in EU energy consumption by 2020. With €48 billion targeted at measures aimed at achieving EU climate objectives and creating a low carbon economy, the Cohesion Policy is making a considerable contribution to these goals.

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Regional Development Projects

European Sustainable Development Strategy

Last Updated: 16/03/2009 15:40:34 By Charlotte Jacques