In an attempt to fight climate change, the EU has announced an investment program worth over €10 billion for low-carbon technologies in several sectors to boost their global competitiveness.
Commissioner for Climate Action and Energy Miguel Arias Cañete said: “Less than three months after adopting our strategic vision for a climate neutral Europe by 2050, we are putting the money where the mouth is. Our objective is to keep building a modern, competitive and socially fair Paris-aligned economy for all Europeans. For this to happen, we will need deployment of clean innovative technologies on an industrial scale. This is why we are investing in bringing to the market highly innovative technologies in energy intensive industries, in carbon capture, storage and use, in the renewable energy sector and in energy storage. We are today unleashing technological solutions in all Member States and pressing the fast-forward button in our transition to a modern and climate-neutral society in Europe.”
The Commission aims to launch the first call for proposals under the Innovation Fund already in 2020, followed by regular calls until 2030.