Slovakia has missed the opportunity to use the EUR 14 billion of Cohesion spending to transform its largely monopolistic, heavily state influenced energy economy with its high dependence on imported fossil fuels and high carbon intensity.
EU funds could do a whole lot more to help the transformation to an efficient sustainable energy system in Croatia if the country adopts an effective strategy to get there, argues our research co-ordinator, Pippa Gallop.
Hungary allocates a relatively high amount of EU Funds to energy but an in-depth analysis shows a lack of direct, non-refundable support in renovation of residential buildings, significant finance for burning instead of preventing waste and potentially unsustainable use of biomass.
Billions of euros of European funds will be invested in Poland between 2014 and 2020 under the heading of sustainable development and climate action. But without sound strategies and political will to decarbonise its economy, Europe’s biggest coal addict is set to waste the transformative potential of EU money – and Brussels is letting it happen.
Brussels/Prague, 25 January 2016 – EU billions destined to transform the carbon-intensive, inefficient energy systems of central and eastern Europe are being misspent, finds a new report today by CEE Bankwatch Network and Friends of the Earth Europe. Bad spending plans and a lack of climate commitments from nine central and eastern European governments is hampering Europe’s transition away from fossil fuels, the groups say.
This report published by Bankwatch and Friends of the Earth Europe shows how bad spending plans and a lack of climate commitments from nine central and eastern European governments is hampering Europe’s transition away from fossil fuels.
The research reveals that in CEE countries only 7 per cent of the 178 billion euros in European Regional Development and Cohesion Funds will be invested into renewables, energy efficiency and smart grids, and that the integration of climate considerations into all plans and projects – as required under EU law – remains superficial.