European Commission Announces €1 Billion Fund to Promote Sustainable Projects

Europe plans to become climate-neutral by 2050

September 24, 2020


The European Commission (EC) announced that it would launch a €1 billion (~$ 1.16 billion) European Green Deal call for research and innovation projects to tackle the climate crisis and safeguard Europe’s ecosystem and biodiversity.

According to the notification, the Horizon 2020-funded European Green Deal Call opened for registration on September 18, 2020. The deadline for submissions is January 26, 2021. The selected projects are expected to begin operating in the autumn of 2021.

The Commission stated that the deal would help stimulate Europe’s recovery from the COVID-19 crisis through several innovation opportunities. It added that the €1 billion funding would help enhance Europe’s knowledge systems, infrastructure, and empower its citizens to achieve the objectives of the European Green Deal. The deal would also provide global opportunities to address the requirements of less-developed countries, especially in Africa.

According to the Commission, the Deal Call focuses on long-term changes with short to mid-term results. The projects financed under the deal will be to enhance affordable clean energy, sustainable and smart mobility, energy-efficient buildings, zero-pollution environment, and other sustainable benefits.

The European Green Deal is a part of the European Commission’s plan to make Europe climate-neutral by 2050. The commission laid out several requirements to achieve its target, which includes, decarbonization of the energy sector, investments in green technologies, affordable and clean public transport, and co-operation with global partners to enhance environmental standards.  “The €1 billion European Green Deal call is the last and biggest call under Horizon 2020. With innovation at its heart, this investment will accelerate a just and sustainable transition to a climate-neutral Europe by 2050,” said Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education, and Youth.

Recently, the European Investment Bank announced that it would provide €3 billion (~$3.55 billion) for renewable energy projects across Europe and around the globe. This would be a part of EIB’s €12.6 billion (~$14.93 billion) plan for new funding for financing for transport, clean energy, and urban development.

In May 2020, the European Commission’s Innovation and Networks Executive Agency and the Indian Department of Science and Technology called for proposals that make use of existing local energy systems to speed up decarbonization and reduce clean energy costs.

Harsh Shukla is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.

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