The EU has embraced ambitious objectives in the fight against climate change – 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 plans to make a considerable contribution to these goals. This includes €23 billion for railways, €6 billion for clean urban transport, €4.8 billion for renewable energies and €4.2 billion for energy efficiency.
Romania and Bulgaria are investing the highest proportion of Cohesion Policy funds on environment-related projects, at 44% and 41% of their allocation respectively. In comparison, Denmark and Austria invest only 6% and 7% of their allocations for 2007-2013. Comparison of all EU Member States: here.
As a response to the economic crisis, the cohesion policy foresees that all EU Member States and regions would be able to get EU regional development funding for energy-efficiency and renewable energy investments in housing (until now, only the Member States which entered the EU after May 2004 were eligible). A draft EP legislative resolution on a proposed regulation amending European Regional Development Fund was adopted by the European Parliament on 2 April 2009. For more information, see the press realease here.
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