Euro Budget Targets Energy Efficiency and Renewables

ENERGY efficiency and renewable energy look set to be an investment priority under the new €346 billion European Regional Development Fund (ERDF) budget.

There will be 11 investment priorities for ERDF budget for 2014-2020 being discussed in Brussels this week, with energy efficiency and renewables being identified as two areas that have been neglected under the current budget period, 2007-2013.

The ERDF is an important part of infrastructure project funding, with the aim to correct disparity between regions. The fund, amongst other things, also provides business support to SMEs, energy infrastructures and sustainable urban development.

The target for one of the investments priorities is to support the shift towards a low-carbon economy across all sectors, including energy efficiency in public infrastructures.

From 2014, Europe’s 'transition regions' and the more developed areas will be obliged to concentrate the greater part of their allocation on energy efficiency and renewable energy, competitiveness of SMEs, and innovation, with 20 percent of resources focused particularly on energy efficiency and renewables. With this dropping to 6 percent in the less developed regions.

This proposed budget is being debated by regional presidents and mayors (the 'Committee of the Regions') today and tomorrow at a special meeting in Brussels.

Picture of European Union by Motiqua reproduced under CCL.

Tuesday 11th October 2011


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