The European Commission has announced an investment programme worth over €10 billion for low-carbon technologies in several sectors to boost their global competitiveness.
EU innovative climate action, as announced today, has a range of benefits for the health and prosperity of Europeans with an immediate, tangible impact on people's lives – from the creation of local green jobs and growth, to energy-efficient homes with a reduced energy bill, cleaner air, more efficient public transport systems in cities, and secure supplies of energy and other resources.
The Commission aims to launch the first call for proposals under the Innovation Fund already in 2020, followed by regular calls until 2030.
The Innovation Fund will pool together resources amounting to around €10 billion, depending on the carbon price. At least 450 million allowances from the EU Emissions Trading System (EU ETS) Directive will be sold on the carbon market in the period 2020-2030. The revenues of these sales depend on the carbon price, which is currently around EUR 20.
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