29 Nov '11, 10pm

Will Demise of Euro Kill EU Climate Plans?

Will Demise of Euro Kill EU Climate Plans?

According to Environmental Finance , the Commission proposed that the EU budget for the next seven-year period which starts 2014 should rise to €1,025 billion ($1.48 trillion by the US count of billions/trillions) ramping up further from €975 billion in the current seven-year period, already nearly a trillion in US dollars. This would include a ‘Connecting Europe Facility’ that would use “innovative financing tools”, including project bonds to speed up investment in Europe’s energy and transport networks, and help the integration of renewables into the electricity grid. Likewise, the EU plans to commit higher levels of funding to the fight against climate change in developing countries and allocate €80 billion for research and innovation – with the energy sector being a key recipient of funds. These proposals are only the start of a lengthy negotiation between member state...

Full article: http://cleantechnica.com/2011/11/29/will-demise-of-euro-k...

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