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EU governments said Wednesday that the EU's flagship fund to remove reliance on fossil fuels will not finance natural gas projects, ending the debate over whether to make the
fuel eligible for support.
Natural gas emits about 50 percent less carbon dioxide than coal when burned in power plants, but this is associated with leakage of methane, a potent greenhouse gas
.
Envoys from the 27 member states of the European Union approved the deal
on Wednesday.
Under the agreement, the fund cannot be used to support any investments
related to fossil fuels, including natural gas.
Nor will the Just Transition Fund support investment
in nuclear energy.
The Fair Transition Fund will target regions that use the most polluting fuels such as coal, peat, and Poland, Germany and Romania are expected to be the biggest beneficiaries
.
German green councillor Niklas Nienass said he supported the outcome to minimise investment in
fossil fuels.
"In fact, the profit in terms of gas spending on the European Regional Development Fund is small
.
"
The Fair Transition Fund will receive €17.
5 billion from the Coronavirus Recovery Fund and the EU's 2021-27 budget).
The money is intended to attract more private sector cash to support green industries and retrain workers
from polluting energy industries.
EU governments said Wednesday that the EU's flagship fund to remove reliance on fossil fuels will not finance natural gas projects, ending the debate over whether to make the
fuel eligible for support.
Natural gas emits about 50 percent less carbon dioxide than coal when burned in power plants, but this is associated with leakage of methane, a potent greenhouse gas
.
Envoys from the 27 member states of the European Union approved the deal
on Wednesday.
Under the agreement, the fund cannot be used to support any investments
related to fossil fuels, including natural gas.
Nor will the Just Transition Fund support investment
in nuclear energy.
The Fair Transition Fund will target regions that use the most polluting fuels such as coal, peat, and Poland, Germany and Romania are expected to be the biggest beneficiaries
.
German green councillor Niklas Nienass said he supported the outcome to minimise investment in
fossil fuels.
"In fact, the profit in terms of gas spending on the European Regional Development Fund is small
.
"
The Fair Transition Fund will receive €17.
5 billion from the Coronavirus Recovery Fund and the EU's 2021-27 budget).
The money is intended to attract more private sector cash to support green industries and retrain workers
from polluting energy industries.
