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This study examines the value added by the Recovery and Resilience Facility (RRF) funding in four specific countries: Estonia, Hungary, Poland, and Romania. Focusing on each country’s national plans for utilising the funding, we identify where national plans may have generated value added and where additional work is needed to make RRF funding more effective.

To address the consequences of the coronavirus pandemic, the EU has put in place an unprecedented temporary recovery instrument, Next Generation EU (NGEU). Its main spending tool is the Recovery and Resilience Facility, worth €723.8 billion (in current prices). While EU countries differ both in terms of their pre-coronavirus situations and in terms of Covid-19-related impacts, they can all seize the opportunity to kick-start their economies with this financial injection. To access funding under the ...

The EU's commitment to the objectives of the Paris Agreement, and the ambitious European Green Deal, require significant investment. It is estimated that hundreds of billions of euros are needed in the current decade to reach the carbon reduction targets. The EU taxonomy is a classification system that aims to channel public and private investment into environmentally sustainable economic activities in order to achieve environmental objectives, such as those in the fight against climate change. It ...

Based on Commission’s assessments of national Recovery and Resilience Plans, this paper outlines how 2019 and 2020 Country Specific Recommendations covering climate and green transition related issues are being addressed in national plans. It also compiles the Commission’s assessment on how Member States’ national plans contribute to the green transition. The paper will be updated once new relevant information is available.

Europe is in the midst of a digital revolution that is transforming our approach to work and communication and building significant potential to improve living standards and economic output. With the potential to drastically change the economy and society, digital transformation can bring both promising developments and challenges. There is wide variation in advances in digital transformation both within the European Union and between Member States. To this end, the European Union and its Member ...

The public sector loan facility (PSLF) is the third pillar of the Just Transition Mechanism (JTM), along with the Just Transition Fund and just transition scheme under Invest EU. The facility consists of a grant and a loan component. With the contribution of €1.525 billion for the grant component from the Union budget (including assigned revenues) and EIB lending of €10 billion from its own resources, the aim is for the public sector loan facility to mobilise between €25 and 30 billion in public ...

European green bond standard

Briefing 21-10-2021

The IA assesses elements to be added to the 2019 TEG report on a European Green Bond Standard (EU-GBS). The range of options is therefore limited to these additional aspects and does not cover the entire set of rules for green bonds. The IA is based on reliable internal and external research, international data and several stakeholder consultations. While the definition of the objectives could have been more specific, the problem analysis and the assessment of options are overall logical and thorough ...

This sixth edition of the background reader on the European Semester, prepared by the Economic Governance Support Unit (EGOV) in the Directorate for Economic and Scientific Policies of the European Parliament, provides an overview of publications related to the European Semester and the monitoring of the RRF from a parliamentary perspective. It aims at further increasing the links between Members of the European Parliament and national Parliaments, notably during inter-parliamentary meetings.

Just Transition Fund

Briefing 20-09-2021

The EU aims to cut greenhouse gas emissions by at least 55 % by 2030 and achieve climate neutrality by 2050. This will require a socio-economic transformation in regions relying on fossil fuels and high-emission industries. As part of the European Green Deal, on 14 January 2020, the European Commission adopted a proposal for a regulation to create the Just Transition Fund, aimed at supporting EU regions most affected by the transition to a low carbon economy. In the context of recovery from the coronavirus ...

This study explores the prospects of aligning citizens' behaviour with the objectives of the European Green Deal in the domains of food consumption and mobility. Creating a climate-neutral and resource-efficient European economy requires a deep transformation of energy, mobility and food systems, as well as a change in production and consumption practices. Such profound change will impact both individuals and society. At the same time, the transition to sustainability will not succeed if people do ...