EU green transition fund excludes nuclear and gas

The EU’s €40bn Just Transition Fund, designed to help move away from fossil fuels, is unlikely to finance nuclear or natural gas projects or decommissioning after a meeting of member countries.

The issue has beset the scheme, with several Eastern European countries asking for funding to help them decommission existing coal projects, however agreement has bow been reached that will exclude these energy sources.

The fund, made up of €30bn from the COVID-19 recovery fund and €10bn from EU budgets, is intended to help the transition and retrain workers in high carbon sectors to the low carbon economy.

However, the agreement is yet to be finalised, and some ‘horse-trading;’ is still expected with countries such as Poland and Hungary.

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