About Decarbonizing Europe
What does the Recovery and Resilience Facility entail?
The European Commission has made available an amount of 723.8 billion euros
to combat the consequences of the corona crisis and make Europe greener, cleaner, and future-proof. All member states have the opportunity to submit plans for disbursement from this Recovery and Resilience Facility.
Who is participating in the Recovery and Resilience Facility?
All the member states of the European Union. All member states? No, The Netherlands has not submitted plans as yet. Although, it became public knowledge at the end of January that hard work is going on behind the scenes in the Netherlands to secure some of those European billions.
What do the member states have to spend the money on?
At least 37 percent of the funding should be used for making their countries more sustainable and 20 percent for digitalization. In addition, there are also other key points:
– Smart, sustainable and inclusive growth
– Social and territorial cohesion
– Public health, economic, social, and institutional resilience
– Policy for future generations
Apart from that, the EC has identified several so-called flagship areas:
– Power up
– Renovate
– Recharge and Refuel
– Connect
– Modernise
– Scale-up
– Reskill and upskill
What is Innovation Origins planning to do?
Over the next few months, we will be focusing on the implementation of these plans. We will be outlining what each country is doing to reduce CO₂ emissions, and we will be reporting on innovative projects. Infographics will allow you to compare the member states’ efforts with each other.
A crisis such as COVID-19 calls for robust measures. The European Commission created the Recovery and Resilience Facility, which is comprised of over € 723.8 billion in grants and loans. To claim a share of this budget, member states had to present a plan of reforms and investments to foster the digital and green transition. In Decarbonizing Europe, we analyze and compare the different plans. What are countries spending the money on, what is their strategy and how are they tackling the climate crisis? This week: Hungary.
Hungary has applied for a €7.17 billion non-reimbursable loan from the European Union as part of the Recovery and Resilience Facility (RRF) plan. They plan to invest money into water management, digital reskilling and upskilling and solar power plants aimed primarily at helping poor people in rural areas. Hungarians have also been looking forward to green transport for a long time. But the money may not come anytime soon.
EU funds are on hold for Hungary
According to the European Commission, the Hungarian plan fails to satisfy two of the assessment criteria that concern anti-corruption measures. On 16 February 2022, the European Court of Justice …….