CAN Europe EU Toxic Funding Awards Logo

InvestEU: in a hotter climate?

 

InvestEU acts as a financial guarantee to attract private investments for sustainable infrastructure and research and innovation with high “added value”. But does added value include climate action?

InvestEU is the proposed successor to the ‘Juncker Plan’ or European Fund for Strategic Investment (EFSI). By July 2018 the current Juncker Plan granted direct guarantees to fossil fuel projects worth 2.1 billion euros, out of which 2 billion euros on gas distribution and metering projects, to the detriment of long-term decarbonisation objectives.

The new plans for energy projects in the post-2020 period should aim at further developing renewables. But current proposals would allow funding for fossil fuels and fossil gas in particular, which means that InvestEU could still continue to prop up toxic gas all the way until 2027 with European taxpayers’ money.

If you think private investments should be steered away from fossil fuels and towards the clean energy transition, vote here!

Check the results

 

cane logo rgb high cropped v2

Credits and acknowledgements

Graphic design: Howard Wasserman, www.howardwasserman.com

Web design: Dan Cruson, CrusonWeb www.crusonweb.com

Financial support: This project has been realized by the helpful support of the European Commission LIFE program

foee portrait 300dpi PNG NEWlogoFWETransparent background BWN logo eu flag yellow low