The EU has a €86.7 billion Social Climate Fund to make its Green Deal work for the people. Together with WWF European Policy Office and Carbon Market Watch, we explain the basics of how this fund works. To get the most out of it, we are also urging the European Commission and member states to support a just transition by: 1️⃣Extending loans to member states as of 2025, which can be later recouped from future ETS2 (carbon market) revenues. This should enable the rolling out of low cost EV ‘social leasing’ programmes across member states ASAP (as in France); 2️⃣Prohibiting investments in so-called ‘transition’ fossil fueled technologies, which only lock EU citizens longer into carbon pricing. Low carbon ≠ zero carbon; 3️⃣Disbursing part of the SCF money as direct income support or ‘climate dividends’. This can help to build broad support for climate measures and serve as the essential bridge low-income families need while investments in cleantech are kicking in; 4️⃣Increasing the funds available for the SCF through a new 1bn EU Climate and Social Investment Plan. #GreenDeal #SocialClimateFund #SCF #ETS2
Our latest FAQ, released in cooperation with Transport & Environment (T&E) and WWF European Policy Office, explains all you need to know about the EU’s Social Climate Fund (SCF) The SCF has been developed with the explicit purpose of alleviating energy and transport poverty arising from the new EU Emissions Trading System covering buildings and transport Our guide answers these need to know questions: 🤔 What is the Social Climate Fund? 💁♀️ Why was it established? 🤷♂️ Where does its money come from? 💶 How do member states receive funding? 💚 What can it be spent on? 🧐 Is there enough funding? To understand even more about the SCF and our policy recommendations to make it even more effective check out the full FAQ here: https://lnkd.in/ejiWWMEm Eleanor Scott Bernardo Galantini Mags Bird
