How the EU Modernisation Fund can be a driver for the fossil-free energy transformation
The Modernisation Fund is one of the key funding instruments of the European Green Deal Investment Plan, but there are many loopholes in its current set-up which can cause a continued lock-in into fossil fuels in the beneficiary member states.
This briefing aims to set out a number of principles and demands to ensure that:
- Projects that will benefit from the Fund are compatible with the climate neutrality, zero pollution, and just transition objectives of the European Green Deal, and do not cause a lock-in into fossil fuels;
- The revision of the Modernisation Fund does not provide support for fossil fuels, but becomes a driver for the just transition of our economy, in line with the EU’s commitments under the Paris Agreement.
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