This week, the green transition in Europe takes a turn at full speed. Ursula Von der Leyen, President of the European Commission announced yesterday a historic post-Covid-19 recovery plan : a €750 billion reinforcement to the long-term EU budget.
It is therefore €500 billion in grants and €250 billion in loans that will finance the ‘Next Generation EU’ recovery instrument over the period 2021-2027 for a more competitive, more resilient and more responsible Europe. Ursula Von der Leyen declared yesterday:
“The recovery plan turns the immense challenge we face into an opportunity, not only by supporting the recovery but also by investing in our future: the European Green Deal and digitalization will boost jobs and growth, the resilience of our societies and the health of our environment. This is Europe's moment. Our willingness to act must live-up to the challenges we are all facing. With Next Generation EU we are providing an ambitious answer.”
Indeed, this ambitious economic recovery sees Europe moving forward, beyond the short-term damage caused by the health crisis, investing in the long-term.
The “Next Generation EU” instrument will follow three main course of action: support to Member States with investments and reforms, kick-starting the EU economy by incentivising private investments, and addressing the lessons of the crisis. At the heart of these principles, the green transition could benefit from €310 billion in subsidies and €250 billion in loans, which will be primarily directed to the countries lagging behind in terms of green investments and infrastructures.
Moreover, a proposal to strengthen the Just Transition Fund up to €40 billion was made, aiming to assist Member States in accelerating the transition towards climate neutrality as well as a €15 billion reinforcement for the European Agricultural Fund for Rural Development to support rural areas in making the necessary structural changes.
Among other things, the European Green Deal - which encourages the renovations of our buildings and infrastructures, a circular economy, a clean hydrogen economy, renewable energies use and cleaner transport and logistics - would be put in the spotlight in the restructuring process of a long-term European green strategy.
This unique and historic funding proposed by the European Commission allows us to approach the future with unprecedented confidence and motivation. The turnkey tools offered by Longevity Partners, aimed at ensuring the energetic transition of buildings, the establishment and maintenance of infrastructure for electric vehicles, solar panels and much more are at the heart of this new sustainable era. Longevity Partners - a trusted partner to accelerate your responsible transition - remains by your side for the transformations and regulations ahead.