EnergyWatch

EU invests EUR 10 billion in green fund

Green technological solutions require support, says the EU Commission, which has just established a green fund with EUR 10 billion in capital sourced from carbon quota sales.

Photo: /ritzau/AP/Martin Meissner/

The EU Commission wants to accelerate developments with green technological innovation and climate-friendly energy solutions and has thus launched what it calls The Innovation Fund, informs the EU Commission in a press statement.

According to the statement, the fund aims to ensure that Europe take a leading role within the field and thus benefit from global competitive advantages. The fund has therefore been capitalized with EUR 10 billion sourced from the sales of 450 million CO2 quotas in the EU's Emissions Trading System (EU ETS).

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