The Commission adopted today the rules on the operation of the Modernisation Fund, an EU solidarity funding mechanism to support 10 EU Member States in their transition to climate neutrality by helping to modernise their energy systems and improve energy efficiency. The Member States to benefit by the Modernisation Fund are Bulgaria, Croatia, Czechia, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia.
Today, the European Commission’s Executive Vice-President Frans Timmermans, the Canadian Minister for Environment and Climate Change Jonathan Wilkinson and China’s Minister for Ecology and Environment Huang Runqiu co-chaired the 4th session of the Ministerial on Climate Action (MoCA). This year’s meeting took place in a virtual format. Against the backdrop of the Coronavirus pandemic, the meeting focused on aligning global recovery measures with the Paris Agreement, and improving resilience against future crises. Participants included Ministers from G20 countries and other key parties in the UN climate negotiations.
The Commission is launching today the first call for proposals under the Innovation Fund, one of the world’s largest programmes for the demonstration of innovative low-carbon technologies, financed by revenues from the auction of emission allowances from the EU’s Emissions Trading System. The Innovation Fund will finance breakthrough technologies for renewable energy, energy-intensive industries, energy storage, and carbon capture, use and storage. It will provide a boost to the green recovery by creating local future-proof jobs, paving the way to climate neutrality and reinforcing European technological leadership on a global scale.