Commission calls for additional €50bn in low carbon technologies
European Commission called public authorities, business, and researchers to join efforts in order to develop by 2020 the necessary technologies to address climate change, secure EU energy supply and ensure the competitiveness of our economies. In a proposal on "Investing in the development of low-carbon energy technologies", the Commission estimates that an additional investment of €50 billion in energy technology research will be needed over the next 10 years. This means almost tripling the annual investment in the European Union, from €3 to €8 billion. This represents a step forward in the implementation of the European Strategic Energy Technology Plan (SET-Plan), the technology pillar of the EU's energy and climate policy. Different sources of funding are considered, from public and private sectors at national and EU level, to be used in a coordinated way will also help to push forward a fast growing industrial sector and to create jobs.