EU leaders agreed early on Tuesday (21 July) that around a third of the €750bn coronavirus recovery package and the €1.074 trillion seven-year budget will be invested in projects contributing to climate action.
This could mean nearly €550bn spent on climate initiatives over the next seven years - which is far below €2.4 trillion in low-carbon investment needed to meet EU climate targets.
For Thomas Pellerin-Carlin from the think tank Jacques Delors Institute, this is a "good deal...
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Already a member? Login hereElena is EUobserver's Managing Editor. She is from Spain and has studied journalism and new media in Spanish and Belgian universities. Previously she worked on European affairs at VoteWatch Europe and the Spanish news agency EFE.
Elena is EUobserver's Managing Editor. She is from Spain and has studied journalism and new media in Spanish and Belgian universities. Previously she worked on European affairs at VoteWatch Europe and the Spanish news agency EFE.