EU finalizes "green agreement" investment plan

　　According to a report from the energy information website "Renewable Energy World", the European Union recently announced a specific investment plan for the "Green Agreement". The 27 member states of the European Union have agreed on a budget of 1.8 trillion euros. These funds will be invested in two sub-fields respectively. One is the financial framework between 2021 and 2027, with a total investment of 1.07 trillion euros; the second is the "Next Generation EU" plan, with an allocation of 750 billion euros. The plan will take effect on January 1, 2021.

　　It is understood that the European Union first proposed a "Green Agreement" investment plan at the end of 2019. At that time, it was unanimously approved by the majority of member states, but in determining the specific amount of appropriation and the proportion of investment in subdivisions, it has been unable to coordinate. According to the previous plan, the total investment scale of the "green agreement" is about 1 trillion euros, of which 503 billion euros will be used for financial expenditures from 2021 to 2017.

　　Although according to the final investment plan, whether it is the total budget or the subdivision plan, the investment amount has been greatly increased, but the market does not buy it, and there are even comments that this plan is "too frugal."

　　According to the oil price website, many economists, legal workers, and environmentalists believe that this EU plan cannot achieve the previous assumptions. The oil price website quoted climate experts as saying that the original intention of the "Green Agreement" investment plan was to promote ecological transformation and achieve climate goals. However, the final investment plan not only cuts this part of expenditure, but also deletes some key projects. Other industry experts and scholars criticized the "Green Agreement" investment plan for not explicitly requiring the abolition of fossil fuel subsidies, which is ineffective.

　　It is understood that the European Union has previously stated clearly that in order to achieve the emission reduction targets promised by the Paris Agreement and help EU countries achieve carbon neutrality by 2050, 30% of the total budget of the "Green Agreement" will be used for green development policies and energy promotion. Transformation. But in the finalized plan, this part of the investment amount is 500 billion euros, accounting for only 27%. According to a study by the German think tank AgoraEnergiewende, if the climate goals are to be achieved, the EU needs to invest at least 2.4 trillion euros in power, industry and other fields to reduce emissions.

　　In addition, in May of this year, the European Union also established the "Fair Transition Fund" as part of the "Green Agreement" investment plan to support the transformation and development of low-carbon industries in regions highly dependent on fossil fuel industries. However, in the final announced plan, this part of the investment is only 17.4 billion euros, less than half of the previously proposed amount of 40 billion euros. At the same time, "disappeared", there are also two investment institutions "Invest in the EU" and "European Horizon" to invest in projects in the field of sustainable development.